Investors lose N91.85bn as bearish run in Nigeria’s stock market continues

Investors in the Nigerian Stock Exchange (NSE) lost N91.85 billion as the bearish run in the market continued on Wednesday.

At the end of trading, the equity capitalisation stood at N20.67 trillion, lower than the N20.76 trillion recorded on Tuesday.

Bearish situation means when the stock market slides downward for a longer time. In this situation, the money an investor puts in the market buys more shares but the stocks have less value.

The decline in market capitalisation was caused by profit-taking by some investors while a few others sold off their shares to make up for the losses in the stock market which has been on the decline in the last two days.

The volume of shares traded during trading increased from 222.57 million to 244.34 million on Wednesday.

The bears ripped the All Share Index (ASI) by 0.44 percent at the end of trading at 39,522.06, below the 39,697.62 recorded on Tuesday.

Investors, however, increased the number of deals sealed from 4,470 to 4,714 at the end of trading.

But the value of shares declined, plunging from N5.39 billion on Tuesday to N4.12 billion at the end of trading on Wednesday.

On the trading floor, Seplat share price increased from N530 to N583 following a gain of N53 in its share price.

AIICO share price rose by 5.22 percent to move from N1.15kobo to N1.21kobo.

Cornerstone made the list after gaining 5.17 percent during trading and increased its share price from N0.58kobo to N0.61kobo.

UAC Property share price rose by 5 percent to end trading at N0.84kobo from N0.8kobo.

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Cutix recorded 4.21 percent growth and moved from N2.14kobo to N2.23kobo per share at the end of trading.

Japaul Gold topped the losers’ list after shedding 10 percent in share price to drop from N0.6kobo to N0.54kobo at the end of trading.

NEM share price dropped from N2.12kobo to N1.91kobo following a loss of N0.21kobo in its share price.

Champion Breweries share price plunged by 9.76 percent to end trading at N1.85kobo per share from N2.05kobo.

Nigerian Police Force Microfinance Bank’s share price declined from N1.9kobo to N1.72kobo per share after losing N0.18kobo in share price during trading.

Linkage Assurance completed the list as its share price fell by 8.93 percent to end trading at N0.56kobo per share, having opened trade with N0.51kobo.

For traded shares, Zenith Bank was the most active stock on Wednesday as investors traded 41.38 million shares worth N1.06 billion.

GTBank’s shares were traded at a volume of 28.99 million and valued at N919.82 million.

United Capital was next with 24.60 million shares traded at a cost of N145.32 million.

Mansard reported 17.59 million shares worth N18.45 million, while First Bank recorded over 16.54 million traded shares at a value of N115.78 million.

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