Shareholders lose N120bn amid low investment in Nigeria’ capital market

Nigerian capital market investors lost N120 billion on Thursday as bearish sentiment continued to impact trading at the bourse.

The capital market plunged deeper into bearish territory following the crash in equity capitalization by 0.47 percent at the close of the day’s trading.

After eight hours of trading on Thursday, the market capitalization dropped from N25.21 trillion posted the previous day to N25.09 trillion.

Similarly, the All-Share Index shed 222.65 basis points to close at 46,543.51 compared to 46,766.16 reported on Wednesday.

Investors parted with N2.35 billion for 244.04 million shares in 4,710 deals on Thursday.

This surpassed the N2.43 billion investors coughed out for 261.59 million shares in 4,668 deals the previous day.

Conoil led the gainers’ chart with N2.20kobo to rise from N22.25kobo to N24.45kobo per share.

RT Briscoe share was up by 9.80 percent to move from N0.51kobo to N0.56kobo per share.

Japaul Gold’s share appreciated by 9.68 percent to move from N0.31kobo to N0.34kobo per share.

Meyer gained 9.57 percent to end trading with N1.03 from N0.94kobo per share.

READ ALSO: Investors lose N6bn as bears take control of Nigeria’s capital market

Regal Insurance completed the list after gaining 9.09 percent to close at N0.36kobo from N0.33kobo per share.

Veritas Kapital led the losers’ chart, shedding 8.70 percent to drop from N0.23kobo to N0.21kobo per share.

UAC Nigeria’s share dropped by N0.85kobo to end trading at N10.50kobo from N11.35kobo per share.

Transcohot’s share depreciated from N5.31kobo to N4.95kobo per share after losing N0.36kobo during trading.

UPDC REIT lost N0.10kobo to end trading with N3.30kobo from N3.40kobo per share.

Ecobank completed the list after losing N0.35kobo from its market price to drop from N12 to N11.65kobo per share.

Fidelity Bank led the day’s trading with 44.42 million shares valued at N155.62 million.

Transcorp followed with 35.75 million shares valued at N34.84 million.

Zenith Bank traded 23.29 million shares worth N531.58 million.

UBA sold 15.63 million shares worth N121.32 million, while AccessCorp traded 12.91 million valued at N125.93 million.

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