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Nigeria’s stock market in red as investors lose N2.94bn

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Stock down

At least N2.94 billion was wiped off the Nigerian stock market following the drop in the equity capitalisation to N19.72 trillion at the close of business on Thursday.

This was in contrast to the N19.73 trillion recorded at the bourse on Wednesday.

The All Share Index equally slipped by 5.65 basis points to settle at 37,866.9 from 37,872.55 reported on Wednesday.

Shareholders traded 159.99 million shares valued at N927.85 million in 3,038 deals on Thursday.

However, this was lower compared than the 197.23 million shares traded in 3,610 deals and valued at N2.13 billion the previous day.

Sovereign Insurance led the gainers’ chart after gaining 10 percent to move from N0.30kobo to N0.33kobo per share.

FTN Cocoa gained 9.76 percent during trading to increase its share price from N0.41kobo to N0.45kobo per share.

CWG share price rose by 9.65 percent to end trading at N1.25kobo from N1.14kobo per share.

AIICO share price was up by 9.52 percent to move from N1.05 to N1.15kobo per share at the end of trading.

Redstar Express share price increased by N0.25kobo to end trading with N3.36kobo from N3.11kobo per share.

READ ALSO: Investors pocket N80bn as Nigeria’s stock market recovers from slump

Ikeja Hotel topped the losers’ chart after shedding N0.13kobo from its share price during trading to drop from N1.40kobo to N1.27kobo per share.

UPDC share price declined from N1.43kobo to N1.30kobo per share following a loss of N0.13kobo in its share price.

Wapic share price plunged by 8.47 percent to end trading at N0.54kobo from N0.59kobo per share.

UPL share price declined from N1.52kobo to N1.41kobo per share after losing N0.11kobo in share price during trading.

Unity Bank completed the list as its share price fell by 6.35 percent to end trading at N0.59kobo from N0.63kobo per share.

Sovereign Insurance was the most active stock as investors traded 14.94 million shares worth N4.75 million.

Fidelity Bank shares were traded at a volume of 13.48 million and valued at N32.15 million.

Wapic was next with 11.95 million shares traded at a cost of N6.49 million.

UPDC reported 11.24 million shares worth N15.26 million, while Courtville recorded over 9.81 million traded shares at a value of N2.16 million.

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