Nigeria’s stock market investors lose N274.23bn as premium stocks crash

Investors in Nigeria’s stock market lost N274.23 billion on Wednesday after the equity capitalisation crashed to N20.29 trillion at the close of business on the floor of the bourse.

Trading ended on the floor of the stock market with the equity capitalization standing at N20.570 trillion on Tuesday.

The All Share Index also slumped by 1.33 percent to drop from 39,305.48 to 38,781.48 on Wednesday.

However, investors upped their investment in the capital market trading in 259.51 million shares valued at N1.91 billion in 3,547 deals.

This was higher than 252.57 million shares valued at N1.77 billion that exchanged hands in 3,474 deals the previous day.

Chip Plc led the gainers’ chart after its share price rose by 10 percent to move from N0.30kobo to N0.33kobo per share.

Portland Paint gained N0.20kobo during trading and increased its share price from N2.40kobo to N2.60kobo per share.

Royal Exchange share price rose by 7.14 percent to end trading at N0.45kobo from N0.42kobo per share.

Associated Bus Company gained 6.90 percent during trading to move from N0.29kobo to N0.31kobo per share at the end of trading.

READ ALSO: NSE: Investors lose N6.83bn. Chip, UPL among top losers

Japaul Gold share price increased by 5.17 percent to end trading with N0.61kobo from N0.58kobo.

FTN Cocoa topped the losers’ chart after shedding 10 percent of its share price during trading to drop from N0.40kobo to N0.36per share.

Neimeth share price declined from N1.90kobo to N1.73kobo per share following a loss of N0.17kobo in its share price.

International Breweries share price plunged by N0.50kobo to end trading at N5.20kobo from N5.70kobo per share.

PZ share price declined from N5.40kobo to N5 per share after losing N0.40kobo in share price during trading.

Cornerstone completed the list as its share price fell by 7.02 percent to end trading at N0.53kobo from N0.57kobo per share.

First Bank was the most active stock as investors traded 69.47 million shares worth N514.30 million.

Transcorp shares were traded at a volume of 36.72 million and valued at N32.97 million.

Zenith Bank was next with 16.58 million shares traded at a cost of N366.42 million.

Sovereign Insurance reported 12.57 million shares worth N2.87 million while United Capital recorded over 8.88 million traded shares at a value of N50.22 million.

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