Massive sell-off among investors of Wema Bank, Zenith Bank as stock trade plunges

The Nigerian stock market ended the last day of trading week on a bearish note, as the equity capitalisation plunged to N20.82 trillion on Friday, having closed Thursday’s market with N20.97 trillion as equity capitalisation.

Traded volume of shares by investors, however, rose to N507.25 million on Friday, surpassing the N326.03 million investors traded on Thursday.

The All Share Index (ASI) declined by 0 74 percent at the end of trading today, as it settled at 39,799.89 ASI, falling below the market share value of Thursday, which was 40,095.49 ASI.

Deals sealed by investors also plunged on Friday, hitting 4,465, having recorded 4,567 deals on Thursday at the close of market on Friday.

Value of shares also dipped by end of trading today, declining to N2.44 billion, against the N3.71 billion reported on Thursday.

At the end of trading, Lasaco share price increased from N1.12kobo to N1.23kobo per share following a gain of N0.11kobo in its share price.

Mutual Benefit share price rose by 8.11 percent and moved from N0.37kobo to N0.4kobo.

Courtville made the list following a gain of 5 percent in share price, which increased from N0.2kobo to N0.21kobo.

Oando share price rose by 2.99 percent to end trading at N3.45kobo from N3.35kobo.

Nahco also recorded 2.70 percent growth and moved from N2.22kobo to N2.28kobo per share at the end of trading.

READ ALSO: Investors net N27bn as Oando tops gainers’ chart in Nigeria’s stock market

Wema Bank topped losers list after shielding 10 percent in share price to drop from N0.7kobo to N0.63kobo at the end of trading.

Champion Brew share price dropped from N2.8kobo to N2.52kobo following a loss of N0.28kobo in its share price.

Sunu Assurance share price plunged by 9.59 percent to end trading at N0.66kobo per share from N0.73kobo.

African Prudential share price declined from N6.1kobo to N5.75kobo per share after losing N0.35kobo in share price during trading.

Mansard completed the list as its share price fell by 5.36 percent to end trading at N1.06 per share, having opened trade with N1.12kobo.

For traded shares, Wema Bank was the most active stock on Friday as investors traded 304.52 million shares worth N197.26 million.

First Bank shares were traded at a volume of 30.75 million and valued at N226.05 million.

Zenith Bank was next with 26.61 million shares traded at a cost of N677.40 million.

Transcorp reported 22.92 million shares worth N20.68 million, while United Capital recorded over 17.14 million traded shares at a value of N104.60 million.

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