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Geregu, Prestige, others cost Nigerian stock market cap N5.16bn



The upward movement of the Nigerian stock market was halted on Wednesday following selloffs in Geregu Power, Prestige, and more.

Ripples Nigeria gathered that the gains recorded by Honeywell, Eterna and others on the advance list were not enough to shield the bourse from losing N5.16 billion.

At the end of trading, the loss resulted in the market capitalisation dipping slightly from N34.72 trillion to N34.71 trillion.

Also, 9.49 basis points were wiped off the All-Share Index, dragging the ASI down from 63,766.72 to 63,757.23.

Wednesday’s trading closed with the capital market trading 473.49 million shares in 7,403 deals, valued at N10.08 billion.

This fell short of the 868.80 million shares traded in 8,970 deals on Tuesday, worth N42.80 billion.

Honeywell Flour topped the gainers’ list after its share value rose by N0.33 kobo to end trading at N3.63 kobo from N3.30 per share.

Eterna gained N2.60 kobo to move from N26.05 to N28.65 kobo per share.

Academy gained N0.20 kobo to close at N2.21 kobo, above its opening price of N2.01 per share.

Skyway Aviation’s share price was up by N1.45 kobo, moving from N14.75 kobo to N16.20 per share.

READ ALSO: Nigerian stock market attracts N145.40bn investments from FBN Holding, others

RT Briscoe recorded a 9.80 per cent rise in share price, appreciating from N0.51 kobo to N0.56 kobo per share.

Prestige topped the losers’ table after shedding 10 per cent to drop from N0.50 kobo to N0.45 kobo per share.

Geregu’s share price dropped by N35 to end trading at N315 from N350 per share.

FTN Cocoa lost N0.22 kobo to end trading with N2.07 from N2.29 kobo per share.

Linkage Assurance’s share dropped from N0.77 kobo to N0.70 kobo per share after losing 9.09 per cent during trading.

Jaiz Bank lost N0.17 kobo, dropping from N1.88 kobo to N1.71 kobo per share.

Japaul Gold led the day’s trading with 77.98 million shares valued at N64.58 million.

FCMB followed with 36.62 million shares worth N221.83 million.

Sterling Bank sold 31.23 million shares worth N109.04 million.

Dangote Sugar traded 30.70 million shares valued at N845.90 million, while Fidelity Bank sold 22.28 million shares valued at N160.85 million.

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