Investors lose N75.3bn in eight hours as Nigeria’s stock market slumps by 0.34%

Investors at the Nigerian stock market lost N75.34 billion following the slump in the bourse’s equity capitalization by 0.34 percent on Wednesday.

Sell pressure knocked down the equity capitalization to N22.05 trillion from N22.125 trillion reported on Tuesday.

The All-Share Index was down by 144.35 basis points drop from 42,388.57 to 42,244.22 on Wednesday.

Investors exchanged N2.65 billion for 224.02 million shares in 2,677 deals on Wednesday.

The investment was low compared to 275.93 million shares valued at N3.93 billion that exchanged hands in 3,749 deals the previous day.

May & Baker led the gainers’ chart after its share price rose by N0.41kobo to move from N4.10kobo to N4.51kobo per share at the end of trading.

Cutix share price increased by N0.24kobo to end trading at N0.2.64kobo from N2.40kobo per share.

UPDC gained 7.76 percent in share price to move from N1.16kobo to N1.25kobo per share.

Consolidated Hallmark Insurance’s share appreciated by 5.08 percent to move from N0.59kobo to N0.62kobo per share.

Chams’s share price was up 5 percent to end trading at N0.21kobo from N0.20kobo per share.

READ ALSO: Nigeria’s stock market back in red as investors lose N45bn in 8 hours

On the losers’ table, Royal Exchange led the way with its share price declining from N0.75kobo to N0.70kobo per share after shedding 6.67 percent in its share price.

Lasaco’s share depreciated from N1.10kobo to N1.03 per share after losing 6.36 percent from its share price during trading.

UBN’s share price dropped N0.25kobo to end trading at N4.60kobo from N4.85kobo per share.

FCMB lost N0.13kobo in share price to end trading at N2.87kobo from N3 per share.

Oando completed the list after shedding N0.18kobo from its share price to drop from N4.55kobo to N4.37kobo per share.

UACN topped the day’s trading with 77.36 million shares worth N696.46 million.

Mutual Benefit traded 15.04 million valued at N4.32 million.

Sovereign Insurance followed with 12.15 million shares valued at N3 million.

Veritas Kapital sold 9.63 million shares worth N2.02 million while Access Bank traded 8.98 million valued at N80.90 million.

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