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Investors open week with N40bn loss as Beta Glass, PZ fail to lift Nigeria’s stock market



The Nigerian stock market opened the week with a N40 billion loss following a 0.14 percent dip in the equity capitalisation on Monday.

After eight hours of trading on Monday, the equity capitalisation crashed from N25.31 trillion to N25.27 trillion, throwing the bourse back into bearish territory.

The All-Share Index was up by 70.37 basis points to close at 46,964.23 compared to 46,893.86 achieved last Friday.

Investors traded 359.89 million shares worth N2.61 billion in 5,163 deals on Monday.

This surpassed the 177.09 million shares valued at N4.18 billion which exchanged hands in 3,873 deals on Friday.

Beta Glass led the gainers’ list, netting N5.25kobo to close at N58.20kobo from N52.95kobo per share.

PZ gained N0.90kobo to rise from N9.30kobo to N10.20kobo per share.

Livestock’s share was up by N0.14kobo to move from N1.55kobo to N1.69kobo per share.

Linkage Assurance share appreciated by 8 percent to move from N0.50kobo to N0.54kobo per share.

Jaiz Bank gained 6.06 percent to end trading with N0.70kobo from N0.66kobo per share.

READ ALSO: Investors pocket N2.1bn as Nigeria’s stock market exits bearish zone

Learn Africa led the losers’ chart, shedding N0.21kobo to drop from N2.17kobo to N1.96kobo per share.

Unity Bank’s share dropped by 8.16 percent to end trading at N0.45kobo from N0.49kobo per share.

Caverton’s share depreciated from N1.27kobo to N1.18kobo per share after losing 7.09 percent during trading.

FCMB lost N0.23kobo to end trading with N3.11kobo from N3.34kobo per share.

Transcorp completed the list after losing 6.54 percent from its market price to drop from N1.07 to N1 per share.

Transcorp led the day’s trading with 92 million shares valued at N92.75 million.

Sterling Bank followed with 50.73 million shares valued at N76.61 million.

Fidelity Bank traded 46.67 million shares worth N153.61 million.

Linkage Assurance sold 30.51 million shares worth N15.27 million, while Access Corp traded 15.45 million valued at N156.40 million.

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