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Bearish run in Nigeria’s market capital persists as investors lose N11bn



The Nigerian capital market remained in its bearish state with shareholders’ investment crashing by 0.05 percent at the close of trading on Wednesday.

This represented a loss of about N11 billion as the market capitalisation dipped to N20.242 trillion from N20.253 trillion reported the previous day.

Similarly, the All Share Index was down by 20.66 basis points to close at 38,852.69 compared to 38,873.35 posted on Tuesday.

Investors traded 155.77 million shares valued at N1.51 billion in 3,256 deals on Wednesday.

The value of investment dropped when compared to the 184.44 million shares worth N2.34 billion that exchanged hands in 3,809 transactions on Tuesday.

Transcohot led the gainers’ chart after its share price rose by 10 percent to move from N4.50kobo to N4.95kobo per share.

Pharmdeko’s share price was up by 9.88 percent to end trading at N1.78kobo from N1.62kobo per share.

Conoil gained N2.20kobo to move from N22.35kobo to N24.55kobo per share at the end of trading.

Cornerstone Insurance share price appreciated by 8.16 kobo to end trading with N0.53kobo from N0.49kobo per share.

NEM’s share price rose by 5.26 percent to move from N1.90kobo to N2 per share.

READ ALSO: NSE: Neimeth, Wema Bank among top losers as market cap crashes by 0.08%

Veritas Kapital topped the losers’ chart after shedding 8.70 percent from its share price to drop from N0.23kobo to N0.21kobo per share.

United Capital share price declined from N9 to N8.55kobo per share after losing N0.45kobo in its share price.

Chams lost 4.55 percent in value of share price to end trading at N0.21kobo from N0.22kobo per share.

Access Bank share price declined from N8.90kobo to N8.60kobo per share after losing N0.30kobo from its share price during trading.

Japaul Gold completed the list as its share price fell by 2.13 percent to end trading at N0.46kobo from N0.47kobo per share.

Universal Insurance was the most active stock as investors traded 19.04 million shares worth N3.80 million.

UBA shares were traded at a volume of 18.77 million and valued at N143.09 million.

Zenith Bank was next with 11.75 million shares traded at a cost of N268.83 million.

GTCO reported 10.01 million shares worth N271.26 million, while United Capital recorded over 8.51 million traded shares at a value of N74.56 million.

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