Investors lose N83.5bn in 8 hours as bears tighten grip on Nigeria’s stock market

The Nigerian capital market opened trading with a loss of N83.56 billion on Monday following the crash in equity capitalization by 0.33 percent at the close of the day’s trading.

After eight hours of trading at the bourse, the equity capitalisation dropped from N25.25 trillion to N25.16 trillion on Monday.

The All-Share Index was down by 155.01 basis points to close at 46,687.85 compared to 46,842.86 reported last Friday.

Investors traded 219.49 million shares worth N1.93 billion in 5,168 deals on Monday.

This fell short of the 157.32 million shares valued at N2.86 billion which exchanged hands in 4,586 deals last week.

Redstar Express topped the gainers list with N0.27kobo to rise from N2.70kobo per share to N2.97kobo.

NAHCO’s share was up by N0.42kobo to move from N4.29kobo to N4.71kobo per share.

Meyer’s share appreciated by 9.72 percent to move from N0.72kobo to N0.79kobo per share.

READ ASLO: STOCK MARKET: Nigerian investors make N32.87bn in eight hours

Veritas Kapital gained 9.52 percent to end trading with N0.23kobo from N0.21kobo per share.

UPDC’s share price rose by 9.21 percent to close at N0.83kobo from N0.76kobo per share.

Regal Insurance led the losers’ table, shedding 9.68 percent to drop from N0.31kobo to N0.28kobo per share.

Japaul Gold’s share dropped by 8.82 percent to end trading at N0.31kobo from N0.34kobo per share.

Wapic’s share fell from N0.44kobo to N0.41kobo per share after losing 6.82 percent during trading.

Linkage Assurance lost 6 percent to end trading with N0.47kobo from N0.50kobo per share.

Jaiz Bank completed the list after losing 5.71 percent of its market price to drop from N0.70kobo to N0.66kobo per share.

Transcorp led the day’s trading with 28.48 million shares valued at N369.65 million.

Fidelity Bank followed with 23.53 million shares valued at N79.95 million.

UBA traded 15.08 million shares worth N113.72 million.

Zenith Bank sold 12.57 million shares worth N278.40 million, while AccessCorp traded 11.95 million valued at N116.20 million.

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