Nigerian stock market crashes by 1.76%, wipes N391.31bn off shareholders’ investment

Sell off among shareholders on Thursday cost the capital market N391.31 billion, depleting the bouse value by 1.76 percent.

The gain reported on Wednesday was wiped off, as the market capitalisation fell to N21.75 trillion, down from N22.14 trillion.

The All-Share Index was down by 749.94 basis points on Thursday, ending the market at 41,685.22, against the previous day’s 42,435.16.

Over 473.46 million shares, worth N5.17 billion, were traded in 4,564 deals on Thursday.

The day’s trading fell short of Wednesday’s 649.76 million shares valued at N7.20 billion, and exchanged in 3,757 deals.

Sky Aviation led the gainers’ chart as its share price was up N0.43kobo to end trading at N4.88kobo from N4.45kobo per share.

Oando share price gained N0.40kobo to move from N4.53kobo to N4.93kobo per share at the end of trading.

Wapic’s share price was up by 8.51 percent to end trading with N0.51kobo from N0.47kobo per share.

Mutual Benefit rose 8.33 percent to move from N0.24kobo to N0.26kobo per share.

Consolidated Hallmark Insurance share price appreciated by 8.16 percent to move from N0.49kobo to N0.53kobo per share.

UACN topped the losers’ table after its share price declined from N10 to N9 per share after shedding N1 in its share price.

Dangote Cement share price declined from N280 to N252 per share after losing N28 from its share price during trading.

READ ALSO: Investors gain N34.25bn amid Nigerian stock market’s sluggish growth

Neimeth share price dropped by N0.12kobo to end trading at N1.63kobo from N1.75kobo per share.

May & Baker lost N0.29kobo in share price to end trading at N4.20kobo from N4.49kobo per share.

Pharmdeko completed the list after shedding N0.11kobo from its share price to drop from N2.11kobo to N2 per share.

First Bank led the trading with 228.53 million shares worth N2.61 billion.

Access Bank traded 45.62 million valued at N421.86 million.

Sterling Bank followed with 37.86 million shares valued at N56.83 million.

Unity Bank sold 26.46 million shares worth N11.74 million while Zenith Bank traded 18.70 million valued at N452.42 million.

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