NGX: Ikeja Hotel, Conoil fail to stop stock market’s slide into bearish zone as investors lose N97.29bn

Investors at the Nigerian capital market lost N97.2 billion following the dip in equity capitalization by 0.3 percent on Wednesday.

Consequently, the equity capitalization dropped from N25.38 trillion recorded on Tuesday to N25.28 trillion today.

The All-Share Index was down by 180.55 basis points to close at 46,930.66 compared to 47,111.21 achieved on Tuesday.

Investors traded 434.94 million shares worth N6.26 billion in 5,878 deals on Wednesday.

This surpassed the 341.51 million shares worth N3.69 billion that exchanged hands in 6,417 deals the previous day.

Ikeja Hotel topped the gainers chart after netting N0.13kobo to rise from N1.30kobo to N1.43kobo per share.

Conoil gained N2.40kobo to end trading with N26.50kobo from N24.10kobo per share.

Academy’s share price was up by N0.10kobo to move from N1.03 to N1.13kobo per share.

RT Briscoe’s share price rose by 8.30 percent to move from N0.24kobo to N0.26kobo per share.

Linkage Assurance’s share value appreciated by 6.52 percent to end trading with N0.49kobo from N0.46kobo per share.

Associated Bus Transport led the losers’ table after losing 8.33 percent in its share to drop from N0.36kobo to N0.33kobo per share.

Courtville’s share price dropped from N0.58kobo to N0.54kobo per share after losing 6.90 percent during trading.

Caverton’s share price was down by N0.10kobo to end trading at N1.52kobo from N1.62kobo per share.

May & Baker lost N0.27kobo to end trading with N4.27kobo from N4.54kobo per share.

FTN Cocoa completed the list after shedding 5.26 percent from its market price to drop from N0.38kobo to N0.36kobo per share.

Read also: Investors lose N150bn as NGX Group, Ikeja Hotel fail to lift Nigeria’s stock market

Fidelity Bank led the day’s trading with 47.73 million shares worth N136.72 million.

Transcorp traded 35.58 million valued at N40.86 million.

Courtville followed with 32.45 million shares valued at N17.74 million.

Zenith Bank sold 30.05 million shares worth N799.51 million while GTCO traded 24.62 million valued at N680.80 million.

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