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Investors lose N58.3bn as bears reclaim Nigeria’s capital market

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Investors at the Nigerian stock market lost N58.3 billion on Friday after the bourse slipped back to the bear territory.

The lose represents -0.23 percent drop in the market capitalisation, which plunged from N25.31 trillion to N25.25 trillion.

Also, the All-Share Index was down by 122.62 basis points to close at 46,842.86 compared to 46,965.48 achieved the previous day.

This was after investors splashed N2.86 billion on 157.32 million shares in 4,586 deals on the floor of the capital market.

This fell short of the N3.66 billion the investors parted with for 256.02 million shares in 4,227 deals on Thursday.

Meanwhile, NAHCO topped the gainers list with N0.39kobo to rise from N3.90kobo to N4.29kobo per share.

Multiverse’s share was up by 9.52 percent to move from N0.21kobo to N0.23kobo per share.

Meyer’s share appreciated by 9.09 percent to move from N0.66kobo to N0.72kobo per share.

Fidelity Bank gained N0.23kobo to end trading with N3.43kobo from N3.20kobo per share.

READ ALSO: Market index up by 0.2% as investors pocket N10bn

Japaul Gold completed the list with 6.25 percent to close at N0.34kobo from N0.32kobo per share.

Redstar Express led the losers’ chart after shedding N0.30kobo to drop from N3 to N2.70kobo per share.

Total’s share dropped by N26.40kobo to end trading at N238.50kobo from N264.90kobo per share.

Conoil’s share depreciated from N24.70kobo to N22.25kobo per share after losing N2.45kobo during trading.

Cutix lost N0.22kobo to end trading with N2.05 from N2.27kobo per share.

SCOA completed the list after losing N0.23kobo to drop from N2.38kobo to N2.15kobo per share.

UBA led the day’s trading with 47.99 million shares valued at N369.65 million.

Fidelity Bank followed with 46.49 million shares valued at N158.80 million.

Zenith Bank traded 24.18 million shares worth N541.32 million.

GTCO sold 14.50 million shares worth N317.27 million, while AccessCorp traded 13.75 million valued at N133.20 million.

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