Stock Market: Investors lose N280.61 billion to eight hours of sell off

Sell off trailed Wednesday’s high, resulting to stockholders losing N280.61 billion from their total investment value, which fell from N25.07 trillion.

The loss represents 1.11 percent dip in the market capitalisation, knocking it down to N24.79 trillion at the end of Thursday’s trading.

The All-Share Index moved in the same direction, losing 520.76 basis points as it headed down the hills on Thursday.

This caused the ASI to close at 46,009.23 index points, in contrast to Wednesday’s 46,529.99 points.

Investors exchanged N2.76 billion to trade 279.44 million shares in 4,582 deals, against Wednesday’s 328.99 million shares traded in 4,219 deals worth N4.81 billion.

Guinness ended today’s session leading the top five advancers with N4.25kobo gain in its share, which rose to N46.75kobo per share from N42.50kobo.

International Breweries share increased in value, gaining N0.50kobo to end trading with N5.50kobo from N5 per share.

Ecobank share was up N1.05 to move from N10.90kobo to N11.95kobo per share.

Prestige share was up by 9.52 percent to move from N0.42kobo to N0.46kobo per share.

READ ALSO: CWG, Dangote Cement lead trading as investors gain N248bn

Unilever gained N0.95kobo percent as the share ended trading with N14 from N13.05 per share.

Losers table was led by NEM, after losing N0.30kobo from its share which declined from N3.50kobo to N3.20kobo per share.

Dangote Cement share depreciated from N284.90kobo to N260.60kobo per share after losing N24.30kobo during trading.

AIICO share dropped N5 to end trading at N0.76kobo from N0.80kobo per share.

Ardoca lost N0.65kobo to end trading with N12.45kobo from N13.10kobo per share.

Multiverse completed the list after shedding 4.76 percent from its market price to drop from N0.21kobo to N0.20kobo per share.

The top trading equities are UPDC REIT, which reported an exchange of 46.35 million shares worth N181.87 million.

Courtville traded 36.08 million valued at N21.32 million.

Transcorp followed with 16.88 million shares valued at N18.24 million.

GTCO sold 16.04 million shares worth N409.65 million, while Multiverse traded 10.73 million valued at N2.20 million.

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