Stock Market Loses N70 billion, Amid Sell-offs In Jaiz Bank, Others

Nigerian stock exchange closed negative on Monday, with the market capitalisation depreciating by -0.24 per cent.

‘Sell pressure’ depleted the market capitalisation by about N70 billion, knocking it down to N25.83 trillion from N25.90 trillion.

This was on the back of the All-Share Index falling from 47,554.34 ASI to 47,436.45 ASI, shedding 117.89 basis points during trading.

Investors traded 126.56 million shares on the exchange floor after sealing 3,781 deals worth N1.56 billion on Monday.

At the end of the previous session, 98.98 million shares were traded in 2,780 deals, valued at N5.52 billion.

Sell-offs in Regal Insurance and Jaiz Bank both of which recorded  trading on 97.63 million and  65.42 million shares valued at N23.43 million and N53.67 million respectively, drove down market capitalisation.

READ ALSO:Nigerian Stock Market’s Total Investment Value Rises By N517 billion

Top five gainers

Prestige share appreciated by 9.30 per cent to rise from N0.43kobo to N0.47kobo per share.

NEM grew by N0.38kobo, up from N4.12kobo to N4.50kobo per share.

Courtville ended trading with N0.50kobo from N0.46kobo per share, rising by 8.70 per cent.

Thomas gained 8.33 per cent to end trading at N0.39kobo, having opened with N0.36kobo.

Unity Bank stock was up by 7.55 per cent closing with N0.57kobo from N0.53kobo per share.

Top five losers

Beta Glass depreciated by N4.35kobo, dwindling from N43.95kobo to N39.60kobo per share.

McNichols also fell by 9.68 per cent to end trading at N0.56kobo, after opening with N0.62kobo per share.

SCOA followed the same path, losing N0.11kobo after trading hours, to sell at N1.06 from N1.17kobo per share.

Jaiz Bank reported a decline of 6.82 per cent from previous day’s share price of N0.88kobo to end trading at N0.82kobo per share.

WAPIC share depreciated to N0.33kobo from N0.35kobo, after losing 5.71 per cent during trading hours.

Top five trading equities in stock exchange

Regal Insurance reported 97.63 million shares valued at N23.43 million were traded on its floor.

Jaiz Bank recorded 65.42 million shares valued at N53.67 million.

UBA saw investors trade 22.92 million of its shares valued at N167.35 million.

Fidelity Bank recorded 12.42 million shares exchanged on its floor, worth N50.92 million.

FBN Holdings reported 10.29 million shares valued at N112.34 million exchanged investors’ hands.