Investors lose N148bn as bearish situation persists in Nigeria’s stock market

The losing streak in the Nigerian stock market continued on Tuesday as equity capitalisation crashed to N20.33 trillion at the close of business on the floor of the bourse.

This was lower than the N20.48 trillion reported on Monday, and translated to N148 billion loss for investors in the stock market.

The All Share Index crashed by -0.72 percent to slip from 39, 306.47 to 39,022.52 on Tuesday.

Investors traded in 204.64 million valued at N1.83 billion in 3,940 deals on the trading floor during the day.

However, this was lower than 357.69 million shares worth N3.56 billion traded by the investors in 4,394 deals on Monday.

Initiates Plc led the gainers’ chart after its share price rose by 10 percent to move from N0.40kobo per share to N0.44kobo per share.

Associated Business Company gained 10 percent during trading to increase its share price from N0.40kobo to N0.44kobo per share.

Eterna Oil share price rose by N0.72kobo to end trading at N7.97kobo from N7.25kobo per share.

Transcohot share price increased by N0.32kobo to end trading with N3.57kobo from N3.25kobo.

Wema Bank gained 5.45 percent in share price to move from N0.55kobo per share to N0.58kobo per share at the end of trading.

READ ALSO: Investors lose N91.43bn. African Prudential, Wema Bank among top losers

Port Paint topped the losers’ chart after shedding N0.27kobo in its share price to drop from N2.74kobo to N2.47kobo per share at the close of trading.

Champion Breweries share price declined from N2.17kobo to N1.96kobo per share following a loss of N0.21kobo in its share price.

SCOA share price plunged by N0.20kobo to end trading at N1.95kobo from N2.15kobo per share.

Regal Insurance share price declined from N0.37kobo to N0.34kobo per share after losing 8.11 percent in share price during trading.

Sunu Assurance completed the list as its share price fell by 7.41 percent to end trading at N0.50kobo from N0.54kobo per share.

Courtville was the most active stock as investors traded 27.12 million shares worth N5.46 million.

Fidelity Bank shares were traded at a volume of 23.40 million and valued at N54.20 million.

Zenith Bank was next with 18.54 million shares traded at a cost of N435.53 million.

Access Bank reported 11.49 million shares worth N94.60 million while Transcorp recorded over 10.90 million traded shares at a value of N9.59 million.

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