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Investors lose N12.86bn as sideway trading dampens mood at Nigeria’s stock market



Investors at the Nigerian stock exchange cut down their participation at the bourse for the third consecutive day on Wednesday.

This followed the crash in equity capitalization by 0.06 percent at the close of the day’s business.

The equity capitalization dropped by N12.87 billion from N21.821 trillion posted on Tuesday to N21.808 trillion on Wednesday.

Similarly, the All-Share Index was down by 25.35 basis points to close at 41,789.59 compared to 41,814.94 recorded the previous day.

Traded shares also dropped to 284.60 million valued at N3.20billion in 5,036 deals on Wednesday.

This was lower than 353.23 million shares worth N5.56billion that exchanged hands in 5,322 deals on Tuesday.

LivingTrust topped the gainers’ chart after its share price rose by 9.59 percent to move from N0.73kobo to N0.80kobo per share.

AIICO share price was up by 9.57 percent to end trading at N1.03 from N0.94kobo per share.

UPL share price increased by N0.15kobo to move from N1.65kobo to N1.80kobo per share at the end of trading.

Redstar Express share price appreciated by N0.20kobo to end trading with N3.40kobo from N3.20kobo per share.

Total gained N12.40kobo to move from N207.60kobo to N220 per share.

GlaxoSmithKline led the losers’ table after shedding N0.70kobo from its share price to drop from N7 to N6.30kobo per share.

READ ALSO: NSE: Investors gain N30bn as trading rises by 0.14%

Transcohot share price declined from N5.97kobo to N5.38kobo per share after losing N0.59kobo in its share price.

First Bank share price lost N0.75kobo to end trading at N11.65kobo from N12.40kobo per share.

Veritas Kapital share price declined from N0.23kobo to N0.22kobo per share after losing 4.35 percent from its share price during trading.

African Prudential completed the list as its share price lost N0.25kobo to end trading at N6.10kobo from N6.30kobo per share.

First Bank was the most active stock as investors traded 75.45 million shares worth N898.01 million.

AIICO shares were traded at a volume of 18.41 million and valued at N17.80 million.

Ecobank was next with 17.32 million shares traded at a cost of N137.32 million.

Transcorp reported 15.20 million shares worth N15.49 million, while Fidelity Bank recorded over 14.02 million traded shares at a value of N38.52 million.

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