The Nigerian stock market closed lower again last Wednesday, erasing 444 billion Naira of capitalization as a result of massive sales on several stocks majors. Capitalization increased from 91.44 to 90.996 trillion naira, while the All-Share Index fell by 0.49% to 143,064.57 dots.

The sharp declines in Learn Africa, Cadbury, Meyer, UPDC and International Breweries have weighed on the market, despite a global balance sheet slightly positive: 29 titles up against 27 down. AIICO Insurance (+10%) and NCR Nigeria (+9.96%) led the increases, while Learn Africa (-10%) and Cadbury (-9.92%) were among the biggest losses.

Activity increased, however, with 738.35 million shares traded for 35.5 billion naira, compared to 556.2 Millions the day before. GTCO dominated the transactions with 134.12 million of shares traded for 11.57 billion naira.