Stock market cap sheds whopping N706.77bn due to selloffs in Fidelity Bank, others

The stock market capitalisation continued its decline on Thursday, shedding N706.77 billion to selloffs in Fidelity Bank, and Sovereign Insurance, amongst others.

Ripples Nigeria gathered that due to the loss, the market capitalisation fell to N34.16 trillion, from N34.87 trillion.

The All-Share Index lost 1,297.99 basis points from the 64,046.93 ASI reported the previous day, to close at 62,748.94 ASI.

Investors traded 798.46 million shares in 10,296 deals, worth N10.44 billion on Thursday, contrasting the 1.63 billion shares exchanged in 13,878 deals on the preceding day, valued at N12.69 billion.

John Holt topped the gainers’ list after its share value rose by N0.15 kobo to end trading at N1.65 kobo from N1.50 kobo per share.

Dangote Sugar gained N2.70 kobo to move from N27.15 kobo to N29.85 kobo per share.

Nascon gained N2.30 kobo to close at N25.50 kobo, above its opening price of N23.20 kobo per share.

Skyway Aviation’s share price was up by N1.20 kobo, moving from N12.25 kobo to N13.45 kobo per share.

Golden Brew recorded N0.26 kobo rise in share price, appreciating from N2.67 kobo to N2.93 kobo per share.

Wema Bank topped the losers’ table after shedding N0.50 kobo to drop from N5 to N4.50 kobo per share.

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Fidelity Bank’s share price dropped by N0.79 kobo to end trading at N7.11 kobo from N7.90 kobo per share.

Stanbic IBTC lost N6.80 kobo to end trading with N61.20 kobo from N68 per share.

Sovereign Insurance’s share dropped from N0.50 kobo to N0.45 kobo per share after losing 10 per cent during trading.

Omatek lost 10 per cent, dropping from N0.60 kobo to N0.54 kobo per share.

UBA led the day’s trading with 99.01 million shares valued at N1.33 billion.

FBN Holdings followed with 72.68 million shares worth N1.28 billion.

Transcorp sold 68.79 million shares worth N280.80 million.

FCMB traded 67.89 million shares valued at N415.89 million, while GTCO sold 51.24 million shares valued at N1.77 billion.

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