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Sell-off in Geregu, Thomas Wyatt drags Nigeria’s capital market down



The value of investments in the Nigerian capital market depreciated by -0.02 percent due to the sell-off in Geregu and Thomas Wyatt, amongst others on Wednesday.

The development brought down the market capitalization by N7.02 billion from N28.65 trillion to N28.64 trillion after five hours of trading today.

Also, the All-Share Index shed 12.9 basis points to drop from 52,612.55 to 52,599.65.

Investors traded 119.84 million shares for N2.68 billion in 3,552 deals on Wednesday.

However, this fell short of the 182.39 million shares worth N4.82 billion traded by shareholders in 3,470 deals the previous day.

RT Briscoe led the gainers’ list with a 10 percent rise in share price to move from N0.30kobo to N0.33kobo per share.

Tripple Gee gained 10 percent to move from N0.80kobo to N0.88kobo per share.

Chellarams’ share value was up by N0.15kobo to end trading at N1.65kobo from N1.50kobo per share.

Okomu Oil’s shares traded upward by N16.10kobo to rise from N165 to N181.10kobo per share.

READ ALSO: NGX: Investors in Nigerian Breweries, Caverton, others lose N24.5bn to low demand for shares

Caverton gained 8.42 percent to close at N1.03, above its opening price of N0.95kobo per share.

Thomas Wyatt topped the losers’ table after shedding N0.14kobo to drop from N1.45kobo to N1.31kobo per share.

Cornerstone’s share price dropped by 6.90 percent to end trading at N0.54kobo from N0.58kobo per share.

Geregu lost N8.40kobo to end trading with N134 from N142.40kobo per share.

Honeywell Flour’s share price dropped from N2.33kobo to N2.21kobo per share after losing N0.12kobo during trading.

CWG lost 4.26 percent to drop from N0.94kobo to N0.90kobo per share.

Mutual Benefit led the day’s trading with 11.25 million shares valued at N3.86 million.

Transcorp traded 8.75 million shares worth N10.60 million.

Geregu sold 8.53 million shares worth N1.14 billion.

FBN Holdings followed with 7.69 million shares valued at N89.81 million, while GTCO traded 6.71 million shares valued at N161.99 million.

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