Connect with us

Business

Nigeria’s capital market in a six-month low as investors lose N312.4bn to sell-off

Published

on

The Nigerian capital market closed trading with a loss of N312.4 billion following the crash in equity capitalization by -1.11 percent on Monday.

After eight hours of trading on the floor of the capital market, the equity capitalisation dropped from N28.03 trillion to N27.71 trillion.

The All-Share Index was down by 579.39 basis points to close at 51,400.53 as against 51,979.92 posted last Friday.

Investment in the capital market fell to its lowest in six months as shareholders traded 98.85 million shares valued at N2.51 billion in 4,314 deals on Monday.

This fell short of the 205.05 million shares worth N3.05 billion traded by investors in 3,600 deals last week.

CAP led the gainers with N1.70kobo to rise from N17 to N18.70kobo per share.

NAHCO gained N0.55kobo to move from N5.50kobo to N6.05 per share.

FTN Cocoa’s share value was up by 10 percent to end trading with N0.33kobo from N0.30kobo per share.

Multiverse gained N0.15kobo to close at N2.05 from N1.90kobo per share.

Unity Bank’s share appreciated by 7.14 percent to rise from N0.42kobo to N0.45kobo per share.

READ ALSO: NGX: Investors lose N34.7bn as GTCO, UBA lead trading

MTN Nigeria topped the losers’ chart after shedding N16 to drop from N229 to N213 per share.

United Capital’s share price dropped by N0.70kobo to end trading at N12 from N12.70kobo per share.

Cutix lost N0.13kobo to end trading with N2.25kobo from N2.38kobo per share.

RT Briscoe lost 5 percent to drop from N0.40kobo to N0.38kobo per share.

Sovereign Insurance share dropped from N0.27kobo to N0.26kobo per share after losing 3.70 percent during trading.

UBA led the day’s trading with 15.85 million shares valued at N114.23 million.

Zenith Bank sold 12.26 million shares worth N262.24 million.

Transcorp followed with 5.43 million shares valued at N6.19 million

GTCO traded 5.09 million shares worth N105.71 million, while Dangote Sugar traded 4.17 million valued at N66.83 million.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now