NGX: Investors lose N19bn as Sterling Bank, Honeywell fail to stop market’s slide

Investors at the Nigerian stock market lost N19.8 billion as the bourse stuck between the bears and the bulls at the close of trading on Wednesday.

The development followed the crash in equity capitalization by 0.09 percent from N21.92 trillion to N21.90 trillion today.

Similarly, the All-Share Index was down by 37.94 basis points to close at 41,975.45 compared to 42,013.39 posted on Tuesday.

Investors traded 292.93 million shares valued at N2.05billion in 4,899 deals on Wednesday.

This was lower than the 318.97 million shares worth N3.27billion that exchanged hands in 5,492 deals the previous day.

Universal Insurance topped the gainers’ table after its share price moved up by 10 percent to end trading at N0.22kobo from N0.20kobo per share.

Multiverse share price rose by 10 percent to move from N0.20kobo to N0.22kobo per share at the end of trading.

Honeywell Flour’s share price was up by N0.31kobo to end trading with N3.48kobo from N3.17kobo per share.

Sterling Bank gained N0.10kobo to move from N1.46kobo to N1.56kobo per share.

WAPIC’s share price rose 6.25 percent to move from N0.48kobo to N0.51kobo per share.

Lasaco led the losers’ table after shedding 9.40 percent from its share price to drop from N1.17kobo to N1.06 per share.

READ ALSO: Investors pocket N19.10bn as Nigeria’s capital market rebounds from Monday’s loss

Sovereign Insurance’s share price declined from N0.24kobo to N0.22kobo per share after losing 8.33 percent in its share price.

Chams share price fell by 8.33 percent to end trading at N0.22kobo from N0.24kobo per share.

Ardova’s share price declined from N14.60kobo to N13.50kobo per share after losing N1.10kobo from its share price during trading.

Linkage Assurance completed the list after losing 7.02 percent to end trading at N0.53kobo from N0.57kobo per share.

First Bank was the most active stock as investors traded 58.60 million shares worth N614.76 million.

Multiverse shares were traded at a volume of 32.02 million and valued at N6.44 million.

Mutual Benefit was next with 21.55 million shares traded at a cost of N5.25 million.

Sterling Bank reported 18.48 million shares worth N28.15 million while Transcorp recorded over 15.96 million traded shares at a value of N16.14 million.

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