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Equity cap crashes to N21.9tr as fear of sell-off grips Nigeria’s capital market

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The Nigerian capital market remained in the bears’ territory on Monday following the crash in equity capitalization by 0.3 percent at the close of the day’s business.

At the end of the business on Monday, shareholders lost N83.12 billion to the sell-off that has gripped the capital market as Christmas and New Year festivities approach.

Consequently, the equity capitalization dropped from N22 trillion posted on Friday to N21.92 trillion today.

The All-Share Index was down by 159.31 basis points to close at 42,008.6 compared to 42,167.91 recorded on Friday.

Investors parted with N4.47 billion in exchange for 422.18 million shares in 5,059 deals on Monday.

This surpassed 180.95 million shares valued at N2.42 billion that exchanged hands in 4,019 deals four days ago.

Royal Exchange led the gainers’ chart after recording a 9.43 percent increase in share price to end trading at N0.58kobo from N0.53kobo per share.

Meyer share price rose by 9.09 percent to move from N0.22kobo to N0.24kobo per share at the end of trading.

Consolidated Hallmark Insurance share price was up by 9.09 percent to end trading with N0.48kobo from N0.44kobo per share.

UPDC’s share was up 9.09 percent to move from N0.99kobo to N1.08 per share.

Champion gained N0.19kobo to move from N2.40kobo to N2.59kobo per share.

READ ALSO: UPDC, Linkage fail to stop Nigeria capital market’s slide as investors lose N41.78bn

Wapco led the losers’ chart after its share price fell by N2.45kobo to drop from N24.65kobo to N22.20kobo per share.

Linkage Assurance share price declined from N0.56kobo to N0.51kobo per share after losing 8.93 percent from its share price during trading.

Associated Bus Transport share price slipped by 8.82 percent to end trading at N0.31kobo from N0.34kobo per share.

Vitafoam lost N1.90kobo to end trading at N20 from N21.90kobo per share.

Fidelity Bank completed the list after shedding N0.14kobo from its share price to drop from N2.50kobo to N2.36kobo per share.

First Bank led the day’s trading with 128.86 million shares worth N1.50 billion.

Sterling Bank shares traded 77.77 million shares valued at N115.78 million.

GTCO followed with 47.78 million shares worth N1.14 billion.

United Capital traded 20.96 million shares worth N202.72 million while UBA sold 18.59 million valued at N140 million.

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