Investors lose N268bn as bears maintain grip in Nigeria’s stock market

Investors in the Nigerian equities market lost N268 billion at the close of trading on Tuesday.

This followed the decline in the share prices of Unity Bank, FBNH, Champion, and Livestock, amongst others at the close of trading on Tuesday.

After five hours of trading at the capital market, the equity capitalization decreased to N55.5 trillion from N55.8 trillion posted by the bourse on Monday.

Similarly, the All-Share Index (ASI) decreased to 98, 228.50 from 98,703.68 recorded the previous day.

The market breadth was negative as 14 stocks advanced, 27 declined, while 79 others remained unchanged in 9,620 deals.

Presco, May & Baker Nigeria, and Japaul-Gold Ventures led other gainers with a 10% growth in share price to close at N291.50, N6.60, and N2.09 from the previous N265.00, N6.00, and N1.90 per share respectively

FTN Cocoa Processors, Wema Bank, and International Energy Insurance also grew their share prices by 8.16%, 7.28%, and 7.14% respectively.

On the flip side, Unity Bank led other price decliners as it shed 10% off its share price to close at N1.62 from the previous N1.80 per share.

READ ALSO: NGX: Equity market rebounds as investors gain N195bn

FBN Holdings, Champion Breweries, and Livestock Feeds completed the list of losers with 9.91%, 9.78%, and 9.71% cut in their share price.

On the volume index, United Bank for Africa (UBA) traded 102.233 million shares valued at N2.67 billion in 952 deals, followed by Access Holdings which traded 49.180 million shares worth N878.4 million in 824 deals.

Transcorp traded 30.139 million shares valued at N394.7 million in 697 deals.

UBA also recorded the highest value for the day trading stocks worth N2.67 billion in 952 deals followed by Access Corp which traded equities worth N878 million in 824 deals.

Zenith Bank traded stocks worth N722 million in 512 deals.

By: Babajide Okeowo

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