Investors lose N6bn as bears take control of Nigeria’s capital market

The bears further tightened their grip on the Nigerian capital market on Wednesday following the crash in equity capitalization by 0.02 percent at the close of the day’s business.

The development cost the investors N6.04 billion with the equity capitalization dropping from N25.218 trillion N25.212 trillion after eight hours of trading on Wednesday.

Similarly, the All-Share Index was down by 11.21 basis points to crash from 46,777.37 posted on Tuesday to 46,766.16 today.

Investors traded 261.59 million shares valued at N2.43 billion in 4,668 deals on Wednesday.

This surpassed the 257.41 million shares worth N2.34 billion which exchanged hands in 4,410 deals the previous day.

Regal Insurance led the gainers’ chart with 10 percent increase in share price to rise from N0.30kobo to N0.33kobo per share.

Livestock share was up by N0.14kobo to move from N1.46kobo to N1.60kobo per share.

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

Meyer gained 9.30 percent to end trading with N0.94kobo from N0.86kobo per share.

Linkage Assurance completed the list after gaining 8.51 percent to end trading with N0.51kobo from N0.47kobo per share.

NPF Microfinance led the losers’ chart, shedding N0.22kobo to drop from N2.25kobo to N2.03 per share.

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RT Briscoe’s share dropped by 8.93 percent to end trading at N0.51kobo from N0.56kobo per share.

Prestige’s share depreciated from N0.49kobo to N0.45kobo per share after losing 8.16 percent during trading.

Chams lost 4.76 percent to end trading with N0.20kobo from N0.21kobo per share.

Niger Insurance completed the list after losing 4.76 percent of its share price to drop from N0.21kobo to N0.20kobo per share.

Fidelity Bank led the day’s trading with 81.74 million shares valued at N281.14 million.

Transcorp followed with 30.72 million shares valued at N30.10 million.

GTCO traded 15.49 million shares worth N345.60 million.

AccessCorp sold 15.25 million shares worth N148.83 million, while Zenith Bank traded 10 million valued at N227.33 million.

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