Investors lose N281.1bn to massive sell-off in Nigeria’s capital market

Investors in the Nigerian stock market lost a whopping N281.17 billion to massive sell-off on Thursday.

The loss followed the drop in the market capitalization by -1.03 percent on the trading floor of the capital market.

Consequently, the market capitalization dropped from N27.06 trillion posted on Wednesday to N26.78 trillion today.

Also, the All-Share Index dropped by 521.41 basis points to close with 49,667.14, down from 50,188.55 recorded the previous day.

Investors traded 206.21 million shares valued at N3.92 billion in 5,053 deals on Thursday.

This was lower than the 829.51 million shares worth N4.10 billion that exchanged hands in 4,977 deals on Wednesday.

UPDC REIT led the gainers with N0.30kobo to rise from N3.25kobo to N3.55kobo per share.

RT Briscoe gained 8.57 percent to move from N0.35kobo to N0.38kobo per share.

Chams share value was up by 8.33 percent to end trading with N0.26kobo from N0.24kobo per share.

Custodian gained N0.50kobo to close at N6.80kobo as against the previous N6.30kobo per share.

READ ALSO: Investors lose N516.6bn as Nigeria’s capital market continues bearish run

Livestock’s share traded upward by 4.35 percent, rising to N1.20kobo from N1.15kobo per share.

Lasaco topped the losers’ chart after shedding N0.10kobo to drop from N1 to N0.90kobo per share.

Stanbic IBTC’s share price dropped by N3.15kobo to end trading at N28.40kobo from N31.55kobo per share.

Cadbury lost N1.70kobo to end trading with N15.40kobo from N17.10kobo per share.

Nestle lost N137.70kobo to drop from N1400 to N1262.30kobo per share.

Mansard share dropped from N1.90kobo to N1.72kobo per share after losing N0.18kobo during trading.

Transcorp led the day’s trading with 38.52 million shares valued at N39.01 million.

Zenith Bank sold 16.93 million shares worth N333.74 million.

Chams followed with 13.58 million shares valued at N3.32 million

GTCO traded 12.68 million shares worth N244.83 million, while UBA traded 12.56 million valued at N86.87 million.

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