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Investors lose N120bn amid significant sell-off in Nigeria’s capital market



Investors in the Nigerian capital market lost N120 billion as significant sell-off hit the bourse on Monday.

This followed the drop in equity capitalization from N27.35 trillion to N27.23 trillion after eight hours of trading on Monday.

Monday’s loss was driven by the All-Share Index which slipped from 50,722.33 to 50,489.73 after shedding 232.6 basis points on the trading floor.

Investors traded 207.19 million shares worth N2.11 billion in 4,234 deals at today’s session.

This surpassed the 148.81 million shares valued at N1.92 billion traded by investors in 4,091 deals on Friday.

Japaul Gold led the gainers with 8.82 percent rise in share price to move from N0.34kobo to N0.37kobo per share.

Honeywell Flour gained N0.16kobo to move from N2.79kobo to N2.95kobo per share.

Cornerstone’s share value was up by 5.63 percent to end trading with N0.75kobo from N0.71kobo per share.

READ ALSO: NGX: Investors gain N81bn as Honeywell, GTCO lead trades

Lasaco gained 5.38 percent to close at N0.98kobo as against the previous N0.93kobo per share.

United Capital gained N0.55kobo to rise from N12.25kobo to N12.80kobo per share.

RT Briscoe topped the losers’ chart after shedding 10 percent to drop from N0.40kobo to N0.36kobo per share.

IMG lost N0.90kobo to end trading at N8.25kobo as against the previous N9.15kobo per share.

Sky Aviation’s share price was down by N0.60kobo to end trading with N5.65kobo as against N6.25kobo per share.

Ellah Lakes share dropped from N3.96kobo to N3.58kobo per share after losing N0.38kobo during trading.

Caverton lost 6.84 percent to drop from N1.17kobo to N1.09 per share.

FBN Holdings led the day’s trading with 74.62 million shares valued at N820.15 million.

Multiverse sold 20.49 million shares worth N38.52 million.

Access Corporation followed with 12.34 million shares valued at N111.16 million

AIICO traded 11.57 million shares worth N6.38 million, while Zenith Bank traded 10.23 million valued at N219.14 million.

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