Nigerian Stock Market Loses N110.48 billion On Sell-offs

Over N110.48 billion was lost on Tuesday after the market capitalisation fell to N27.81 trillion from N27.92 trillion, in response to sell off during trading.

The equity cap was dragged down by the All Share Index, which depreciated from 51,791.45 ASI to 51,586.5, losing 204.95 basis points.

Investors traded about 234.60 million shares, worth N2.56 billion, in 3,718 deals on Tuesday.

However, the exchange floor reported on Monday that over 194.12 million shares were traded in 4,899 deals, valued at N2.82 billion.

Top five gainers

• Redstar Express gained N0.25kobo, after its stock price appreciated from N2.50kobo to N2.75kobo per share.
• John Holt reported an uptick of 9.76 percent, as its share rose from N0.82kobo to N0.90kobo per share.
• UPDC share went up by N0.11kobo, rising to N1.24kobo from N1.13kobo per share.
• Unity Bank saw its share price gain 9.52 percent, increasing to N0.46kobo from N0.42kobo per share.
• Academy recorded an appreciation of N0.11kobo, after the share went from N1.32kobo to N1.43kobo per share.

Top five losers

• International Breweries share depreciated by N0.60kobo, dwindling from N6.30kobo to N5.70kobo per share.
• Consolidated Hallmark Insurance share dropped in value by 8 percent, to settle at N0.69kobo from N0.75kobo per share.
• Jaiz Bank followed the same path, losing 6.67 percent after trading hours, to sell at N0.84kobo from N0.90kobo per share.
• Nascon reported a decline of N0.75kobo in its share, depreciating from N11.75kobo to N11 per share.
• BUA Foods share lost N3.50kobo from previous day’s N51.50kobo, dropping to N55 per share.

Top five trading equities

• CAP reported 29.32 million shares valued at N499.94 million, were traded on its floor.
• GTCO recorded 29.01 million shares valued at N592.43 million.
• UBA saw investors trade 25.40 million of its shares worth N189.26 million.
• Transcorp 23.86 million shares worth N30.14 million were exchanged.
• Sterling Bank reported that 16.44 million shares exchanged hands of investors, valued at N24.42 million.

Fakoyejo Olalekan

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