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Investors lose N30bn as Nigeria’s stock market’s bearish trading reaches third day

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The bearish situation in the Nigerian capital market reached the third day on Monday following the crash in shareholders’ investment by 0.12 percent at the close of the day’s business.

Consequently, the equity capitalization dropped by N30 billion from N23.95 trillion to N23.92 trillion on Monday.

The All-Share Index was down by 55.01 basis points to close at 44,399.66 compared to 44,454.67 posted on Friday.

Investors traded 214.31 million shares worth N2.68 billion in 4,410 deals on Monday.

This was lower than the 405.74 million shares valued at N9.82 billion that exchanged hands in 3,880 deals on Friday.

TIP topped the gainers’ chart with its share price rising by 10 percent to move from N0.40kobo to N0.44kobo per share at the end of trading.

Sunu Assurance share price increased by 9.68 percent to end trading with N0.34kobo from N0.31kobo per share.

Eterna’s share price was up by N0.39kobo to move from N5.61kobo to N6 per share.

WAPIC gained 6.25 percent to move from N0.48kobo to N0.51kobo per share.

READ ALSO: NGX: Transcorp, Hallmark Insurance among top gainers as investors trade stocks worth N3.65bn

Consolidated Hallmark Insurance share price was up by 4.48 percent to end trading at N0.70kobo from N0.67kobo per share.

Veritas Kapital led the losers’ table with its share price declining from N0.23kobo to N0.21kobo per share after shedding 8.70 percent in its share price.

Mutual Benefit’s share price depreciated from N0.27kobo to N0.25kobo per share after losing 7.41 percent in share price during trading.

Cornerstone’s share value dropped by 7.27 percent to end trading at N0.51kobo from N0.55kobo per share.

BUA Foods lost N4.20kobo to end trading at N61.80kobo from N66 per share.

Courtville completed the list after shedding 5.41 percent from its share price to drop from N0.37kobo to N0.35kobo per share.

Transcorp led the day’s trading with 39.34 million shares worth N43.05 million.

First Bank traded 25.49 million valued at N305.97 million.

GTCO followed with 24.81 million shares valued at N625.08 million.

Zenith Bank sold 20.91 million shares worth N532.96 million while Fidelity Bank traded 10.35 million valued at N27.22 million.

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