Stock Market Investors Lose N391.19bn To Selloffs In Dangote Sugar, Others

July 31, 2023
Nigerian Stock Exchange 1 660x400 1
Nigerian Stock Exchange 1 660x400 1

Nigerian bourse recorded N391.19 billion loss on Monday after the stock market capitalisation fell to N35.01 trillion following selloffs in Dangote Sugar, Livestock, and others. 

Prime Business Africa gathered that the market capitalisation depreciated by 1.10 per cent, as it dropped from Friday’s N35.63 trillion.

Join our WhatsApp Channel

Likewise, the All-Share Index dipped by 718.87 basis points to 64,337.52 ASI, from 65,056.39 ASI. 

About 673.42 million shares were traded in 9,788 deals on Monday, valued at N6.47 billion, against the 459.77 million shares, valued at N5.34 billion, that were exchanged in 8,051 deals last week Friday.

Top five gainers 

  • Linkage Assurance’s share appreciated by 10 per cent to rise from N0.70 kobo to N0.77 kobo per share.    
  • Sunu Assurance grew by 10 per cent, up from N0.60 kobo to N0.66 kobo per share.    
  • Beta Glass ended trading at N38.50 kobo from N35 per share, rising by N3.50 kobo.    
  • Mansard gained N0.34 kobo to end trading at N3.40 kobo, having opened with N3.74 kobo per share.     
  • Berger’s stock was up by N1, closing at N11.05 from N10.05 per share.    

Top five losers 

  • Dangote Sugar depreciated by N3, dwindling from N30 to N27 per share.      
  • Livestock also declined by N0.21 kobo to end trading at N1.89 kobo, after opening at N2.10 kobo per share.      
  • Caverton followed the same path, losing N0.13 kobo after trading hours, to sell at N1.17 kobo from N1.30 kobo per share.      
  • NPF Microfinance reported a decline of N0.20 kobo from the previous day’s share price of N2 to end trading at N1.80 kobo per share.      
  • Sovereign Insurance’s share depreciated to N0.63 kobo from N0.70 kobo, after losing 10 per cent during trading hours. 

Top five trading equities in the stock exchange 

  • Abbey reported 112.25 million shares, valued at N112.27 million, were traded on its floor.      
  • Fidelity Bank recorded 58.58 million shares valued at N503.70 million.    
  • UBN saw investors trade 51.07 million shares valued at N357.55 million.    
  • FCMB recorded 49.36 million shares exchanged on its floor, worth N323.67 million.    
  • Universal Insurance reported 47.50 million shares, valued at N11.23 million, exchanged investors’ hands.
+ posts

Featured Stories

Latest from Business News

Fuel Subsidy: World Bank Must Allow Africa’s Poor Breathe

World Bank Flags Taxes, Bribery as Constraints on Kenya Businesses

Written by Amanze Chinonye Kenya’s private sector faces higher costs and uncertainty from multiple taxes, regulatory hurdles and bribery, the World Bank said on Thursday, warning that the constraints are weighing on investment and business growth. While Kenya’s corporate income tax rate is

Rwanda Expands Fuel Imports Through Mombasa under Kenya Deal

Written by Amanze Chinonye Rwanda has begun importing bulk refined petroleum products through Kenya’s Mombasa port under a new government-to-government arrangement aimed at diversifying its fuel supply routes and strengthening energy security, with the first 40,000-tonne cargo arriving this week. Join our WhatsApp

Wealth Without Access is Stranded Wealth – Opiva Capital Chairman 

Written by Kamsiyochukwu Mbamalu The Chairman of Optiva Capital Partners, Franklin Nechi, has called on African entrepreneurs, investors and families to move beyond traditional wealth accumulation and embrace global access as a strategic tool for business growth, family security and intergenerational legacy. Nechi
Obi-Datti Blasts EIU For Predicting Tinubu’s Victory At Tribunal
Previous Story

Obi-Datti Blasts EIU For Predicting Tinubu’s Victory At Tribunal

Next Story

EFCC Seeks Reform Of Whistleblowing Policy

Don't Miss

Grey’s Anatomy Star Caterina Scorsone Saves Her Kids From Fire

Grey’s Anatomy Star Caterina Scorsone Saves Her Kids From House Fire

Caterina Scorsone recently endured a terrifying tragedy. The Grey’s Anatomy star
Super Eagles of Nigeria

AFCON 2023 Preview: Elephants, Eagles To Battle For Top Two In Group A

The 2023 Africa Cup of Nations in Cote d'Ivoire is