Investors shed N162.1bn amidst sell-off in Nigeria’s capital market

The equity capitalization in the Nigerian capital market depreciated by -0.53 percent on Wednesday, a few hours after the All Progressives Congress (APC) candidate, Bola Ahmed Tinubu, was declared the winner of the country’s presidential election.

The market capitalization dipped by N162.14 billion from N30.40 trillion to N30.23 trillion following a sell-off by investors in the capital market.

The All-Share Index dropped by 297.65 basis points to close at 55,508.61, down from 55,806.26 posted by the bourse on Tuesday.

Investors traded 565.82 million shares worth N6.57 billion in 4,340 deals on Wednesday.

This surpassed the 237.17 million shares worth N2.50 billion traded by shareholders in 2,820 deals the previous day.

Veritas Kapital led the gainers’ list with a 10 percent rise in share price moving from N0.20kobo to N0.22kobo per share.

Ardova gained N1.65kobo to move from N16.90kobo to N18.55kobo per share.

Wema Bank’s share value was up by N0.35kobo to end trading at N4.35kobo from N4 per share.

TIP gained 8.33 percent to close at N0.52kobo, above its opening price of N0.48kobo per share.

Geregu’s shares traded upward by N22.60kobo to rise from N275.50kobo to N298.10kobo per share.

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John Holt topped the losers’ table after shedding N0.17kobo to drop from N1.76kobo to N1.59kobo per share.

Ecobank share price dropped by N1 to end trading at N12 from N13 per share.

Airtel Africa lost N85 to end trading with N1535 from N1620 per share.

United Capital’s share dropped from N15.35kobo to N14.75kobo per share after losing N0.60kobo during trading.

FTN Cocoa lost 3.45 percent to drop from N0.29kobo to N0.28obo per share.

Capital Hotel led the day’s trading with 333.23 million shares valued at N2.33 billion.

Transcorp traded 47.89 million shares worth N67 million.

GTCO sold 46.62 million shares worth N1.25 billion.

Oando followed with 19.97 million shares valued at N102.32 million, while Access Corp traded 19.41 million shares valued at N186.20 million.

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