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NGX: Oando, Tantalizer, other equity investors lose N40bn to sell-offs



Sell-offs gripped the Nigerian capital market on Thursday leading to losses in Oando, Tantalizer, and other entities at the close of the day’s trading.

The sell-offs brought down the equity capitalization by N40 billion from N37.40 trillion to N37.36 trillion after five hours of trading today.

The decline was reflected in the All-Share Index which dipped by 64.58 basis points to close at 68,271.14, down from the previous day’s 68,335.72.

Investors traded 1.12 billion shares valued at N5.81 billion in 7,949 deals on Thursday.

This surpassed the 566.63 million shares worth N5.38 billion traded by shareholders in 8,201 deals on Wednesday.

John Holt topped the gainers’ list with a N0.15 kobo rise in share price to move from N1.57 kobo to N1.72 kobo per share.

DAAR Comm gained 9.52 percent to close at N0.23 kobo, above its opening price of N0.21 kobo per share.

Omatek’s share price was up by 9.52 percent to move from N0.42 kobo to N0.46 kobo per share.

Mutual Benefit recorded a 9.30 percent rise in share price and moved from N0.43 kobo to N0.47 kobo per share.

READ ALSO: Chams, others record investment growth as Nigeria’s stock market gains N33bn

Sunu Assurance’s share value rose by 9.09 percent to end trading at N0.96 kobo from N0.88 kobo per share.

Oando topped the losers’ table after shedding N1.45 kobo to drop from N14.60 kobo to N13.15 kobo per share.

Lasacol’s share price dropped by N0.20 kobo to end trading at N1.86 kobo from N2.06 per share.

Chams lost N0.14 kobo to end trading with N1.32 kobo from N1.46 kobo per share.

NNFM lost N1.55 kobo to drop from N16.80 kobo to N15.25 kobo per share.

Tantalizer’s share dropped from N0.35 kobo to N0.32 kobo per share after losing N0.90 kobo during trading.

Universal Insurance topped the day’s trading with 669.01 million shares valued at N134.20 million.

Oando followed with 100.68 million shares worth N1.45 billion.

Japaul Gold sold 43.73 million shares worth N43.38 million.

Access Corporation traded 40.14 million shares valued at N681.94 million, while UBA sold 32.45 million shares valued at N552.75 million.

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