The Nigerian Stock Market on Thursday lost N370 billion of gains which it made the previous day, recording a 3.12 percent drop.
The loss came after the government announced the increase in the spread of the novel coronavirus in the country with 4 additional cases, making investors monetise their capital gains.
The market on Wednesday gained N128 billion but at the end of Thursday's trade, the All Share Index (ASI) valued the loss to about 711.06, closing at 22,078.58 with market capitalization dropping to N11.506 trillion from Wednesday's N11.876 trillion.
The day's trade recorded 22 losers including Nestle Nigeria with a loss of N30, MTN Nigeria with N5 drop, Dangote Cement with N4.40 loss, Zenith Bank dropped at N1.35, WAPCO with an N5 loss, Lafarge Africa with a decline of N0.70 kobo, while United Bank for Africa (UBA) recorded a N0.35 loss and Access Bank lost N5.
The 13 gainers are Dangote Sugar Refinery with a gain of N0.15, Sterling Bank with N0.9, Africa Prudential (AFRIPUD) with N0.32 gain and International Breweries (INTBREW) with a gain of N0.25.