Sell-off in Cornerstone, Wapic drags Nigeria capital market down

Investors at the Nigerian capital market lost N3.23 billion following the dip in equity capitalization by 0.01% on Monday.

Consequently, the equity capitalization dropped from N25.475 trillion posted last Friday to N25.471 trillion today.

The All-Share Index was down by 6.0 basis points to close at 47,262.61 compared to 47,268.61 recorded last week.

Investors traded 291.88 million shares valued at N2.85 billion in 4,792 deals on Monday.

This surpassed 179.32 million shares worth N2.12 which exchanged hands in 5,620 deals last week.

Cornerstone topped the gainers’ chart following the rise in its share price by 9.38 percent to close at N0.70kobo from N0.64kobo per share.

Wapic’s share price was up by 8.70 percent to rise from N0.46kobo to N0.50kobo per share.

FTN Cocoa’s share rose by 8.33 percent to move from N0.36kobo to N0.39kobo per share.

READ ALSO: Market index up by 0.2% as investors pocket N10bn

Honeywell Flour’s share appreciated by N0.19kobo to move from N3.70kobo to N3.89kobo per share.

Mutual Benefit gained 4 percent to end trading with N0.26kobo from N0.25kobo per share.

Niger Insurance topped the losers chart, shedding 8.70 percent in share price to drop from N0.23kobo to N0.21kobo per share.

AIICO’s share dropped from N0.70kobo to N0.66kobo per share after losing 5.17 percent during trading.

Linkage Assurance share price dropped by 5.17 percent to end trading at N0.55kobo from N0.58kobo per share.

Regal Insurance lost 4.76 percent to end trading with N0.40kobo from N0.42kobo per share.

Africa Prudential completed the list after shedding N0.30kobo from its market price to drop from N6.80kobo to N6.50kobo per share.

Jaiz Bank led the trading chart with 72.45 million share valued at N57.25 million.

Access Bank followed with 23.05 million shares valued at N236.41 million.

UBA traded 19.99 million shares worth N169.14 million.

Transcorp sold 15.86 million shares worth N16.95 million, while GTCO traded 15.34 million valued at N399.01 million.

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