Nigerian banks and RedStar Limited dragged the Nigerian Exchange Limited to a market capitalization of N36 billion or 0.06 percent, at the close of work on Thursday. NGX data showed that the market capitalisation closed at N59.476 trillion compared to the opening value of N59.512 trillion. Similarly, the All-Share Index declined by 61 points, or 0.06 percent, ending the day at 98,114.11, down from 98,174.99 recorded on Wednesday. Consequently, the Year-to-Date return fell to 31.21 percent.
Market breadth, in spite of the overall bearish trend, closed positive with 35 gainers outperforming 16 losers on the floor of the exchange. Cornerstone Insurance and UPL led the gainers’ table by 10 percent each to close at N3.30 and N3.36 per share, respectively. On the flip side, Red Star Express Limited led the losers’ table by 10 percent to close at N4.41 per share.