NSE: Lasaco hardest hit as investors lose N73 billion

The Nigerian stock market failed to maintain its bull run on Thursday as the market capitalisation closed at N20.97 trillion, below the N21.043 trillion the equity capitalisation closed at on Wednesday, costing investors over N73 billion.

The volume of shares traded among investors also plunged to 326.03 million on Thursday, from 469.56 million share volume traded at the floor on Wednesday.

Decrease in activities led to 0.31 percent decline in the All Share Index (ASI), which closed the stock market with 40,095.49, below the 40,221.30 ASI on Wednesday.

It was also gathered that deals completed by investors decreased to 4,567, failing to surpass the 5,470 deals closed on Wednesday.

According to NSE data, value of shares dipped to N3.71 billion on Thursday, against the N7.08 billion reported as value on Wednesday.

At the end of trading, Chams’ share price increased from N0.22kobo to N0.24kobo per share following a gain of 9.09 percent in its share price.

Royal Exchange share price rose by 8 percent and moved from N0.25kobo to N0.27kobo.

Wema Bank made the list following a gain of 7.69 percent in share price, which increased from N0.65kobo to N0.70kobo.

Redstar Express share price rose by 5.77 percent to end trading at N3.30kobo from N3.12kobo.

Prestige also recorded 4.55 percent growth and moved from N0.44kobo to N0.46kobo per share at the end of trading.

Lasaco maintained its spot as the top loser after shielding N0.12kobo in share price to drop from N1.24kobo to N1.12kobo at the end of trading.

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Fidson share price dropped from N5.35kobo to N4.9kobo following a loss of 8.41 percent in its share price.

Ecobank share price plunged by N0.35kobo to end trading at N5.2kobo per share from N5.55kobo.

Mutual Benefit share price declined from N0.39kobo to N0.37kobo per share after losing 5.13 percent in share price during trading.

UAC Nigeria completed the list as its share price fell by 5.03 percent to end trading at N7.55kobo per share, having opened trade with N7.95kobo.

For traded shares, Transcorp was the most active stock on Thursday as investors traded 48.43 million shares worth N43.72 million.

Dangote Sugar shares were traded at a volume of 33.88 million and valued at N611.83 million.

UBA was next with 27.46 million shares traded at a cost of N229.57 million.

Zenith Bank reported 24.56 million shares worth N637.59 million, while United Capital recorded over 19.23 million traded shares at a value of N118.03 million.

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