Stock Market Closes Down, As Ikeja Hotel, Stanbic IBTC Record Losses

On Monday, 20 March 2023, the Nigerian stock exchange closed down by -0.05 per cent, as the market capitalisation lost N15.99 billion.

This pushed the equity capitalisation down to N29.89 trillion today, from N29.91 trillion reported on Friday, 17 March 2023. 

The All-Share Index depreciated from 54,915.39 ASI to 54,886.04 ASI, losing 29.35 basis points before the stock market ended.

Investors exchanged 1.17 billion shares in 3,066 deals on Monday, worth N2.87 billion. 

This contrasted with the 156.97 million shares, N1.56 billion, that were exchanged in 2,952 deals on Friday. 

Top five gainers 

• Access Corp’s share appreciated by N0.60kobo to rise from N8.40kobo to N9 per share         
• Cutix grew by N0.12kobo, up from N2.11kobo to N2.23kobo per share    
• UPL ended trading with N2.10kobo from N1.99kobo per share, rising by N0.11kobo.  
• Custodian gained N0.30kobo to end trading at N6.10kobo, having opened with N5.80kobo per share.     
• Chams’ stock was up by 4.17 per cent, closing at N0.25kobo from N0.24kobo per share    

Top five losers 

• Wapic depreciated by 9.52 per cent, dwindling from N0.42kobo to N0.38kobo per share.        
• Ikeja Hotel also fell by N0.12kobo to end trading at N1.14kobo, after opening with N1.26kobo per share. 
• Stanbic IBTC followed the same path, losing N3.40kobo after trading hours, to sell at N36.50kobo from N39.90kobo per share.        
• Multiverse reported a decline of N0.20kobo from the previous day’s share price of N3.45kobo to end trading at N3.25obo per share.        
• Livestock’s share depreciated to N1.03 from N1.09, after losing 5.50 per cent during trading hours.         

Top five trading equities in the stock exchange 

• Neimeth reported 1.06 million shares valued at N1.58 million were traded on its floor          
• UBA recorded 15.96 million shares valued at N128.78 million        
• Access Corp saw investors trade 13.03 million of its shares valued at N114.36 million        
• Transcorp recorded 11.77 million shares exchanged on its floor, worth N15.25 million        
• Zenith Bank reported 9.86 million shares, valued at N243.75 million, exchanged investors’ hands

Fakoyejo Olalekan

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