Investors lose N2.11bn as Chams shareholders engage in selloff

At least N2.11 billion was cleared from the Nigerian stock market valuation after the equity capitalisation dipped slightly to N19.975 trillion at the close of trading on Friday.

The bourse ended business with N19.977 trillion equity capitalisation on Thursday.

The All Share Index slipped by 0.01 percent to drop from 38, 328.13 to 38,324.07 on Friday.

Investors traded 174.30 million shares valued at N1.95 billion in 2,581 deals on the floor of the stock market.

This surpassed the 157.26 million shares valued at N1.73 billion traded by investors in 2,824 deals the previous day.

Prestige led the gainers’ chart after its share price rose by 8.16 percent to move from N0.49kobo to N0.53kobo per share.

WAPIC gained 8 percent during trading to increase its share price from N0.50kobo to N0.54kobo per share.

NPA Microfinance’s share price rose by 7.23 percent to end trading at N1.78kobo from N1.66kobo per share.

Sterling Bank share price increased by N0.11kobo to end trading with N1.67kobo from N1.56kobo.

UAC-Property gained 5.06 percent in share price to move from N0.79kobo to N0.83kobo per share at the end of trading.

C&I Leasing topped the losers’ chart after shedding N0.44kobo to drop from N4.50kobo to N4.06kobo per share.

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Chams share price declined from N0.22kobo per share to N0.20kobo per share following a loss of 9.09 percent in its share price.

Julius Berger share price plunged by N1.90kobo to end trading at N19.10kobo from N21 per share.

Royal Exchange share price declined from N0.68kobo to N0.62kobo per share after losing 8.82 percent in share price during trading.

Associated Bus Company completed the list as its share price fell by 6.82 percent to end trading at N0.41kobo from N0.44kobo per share.

Chams was the most active stock as investors traded 36.89 million shares worth N7.39 million.

UACN shares were traded at a volume of 25 million and valued at N264.98 million.

BUA Cement was next with 10.25 million shares traded at a cost of N761.45 million.

Mutual Benefit reported 8.72 million shares worth N3.74 million while First Bank recorded over 8.70 million traded shares at a value of N62.66 million.

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