The logo of the Nigerian Stock Exchange is pictured in Lagos, Nigeria November 9, 2016. REUTERS/Afolabi Sotunde

24 firms have seen their share prices decline at the close of trading on Wednesday, leading to Investors in the Nigerian Exchange Limited losing N5.80bn.

The NGX All-Share Index declined by 2.87 per cent from 38,802.15 basis points to close at 38,791.03bps, Punch reports.

The total trading volume dropped by 2.24 per cent as 237.51 million shares with a value of N1.90bn were exchanged in 4,306 deals.

Consolidated Hallmark Insurance Plc led the losers with a 10.00 per cent loss to close at N0.54 per share.

Followed by Tripple Gee and Company Plc, which also saw a 10.00 per cent drop in its share price to N0.90 at the end of trading on the floor of the NGX.

Other ranking losers were Pharm-Deko Plc (-9.92 per cent), Regency Assurance Plc (-6.82 per cent) and Eterna Plc (-6.58 per cent).

Analysts at Cordros Capital in their market commentary said, “Trading in the local bourse ended on a bearish note as a late sell-off of Zenith Bank (-0.6 per cent) undermined market performance.”


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