Equities’ Investors Lose N50bn

Nigerian equities investors lost N50 billion as bearish sentiment prevailed at the close of yesterday trading.

The All-Share Index (ASI) lost 87.76 points, representing a loss of 0.09 per cent to close at 96,715.04 points. Also, market capitalisation shed by N50 billion to close at N55.576 trillion.

The decline was driven by price depreciation in large and medium capitalised stocks amongst which are; Julius Berger Nigeria, Oando, Northern Nigeria Flour Mills (NNFM), Skyway Aviation Handling Company and PZ Cussons Nigeria.

Investor sentiment, as measured by market breadth, closed positive as 32 stocks advanced while 25 declined. Caverton Offshore Support Group emerged the highest price gainer of 9.95 per cent to close at N2.10, per share. Red Star Express followed with a gain of 9.69 per cent to close at N3.85, while UPDC advanced by 9.63 per cent to close at N1.48, per share.

Berger Paints Nigeria increased by 9.33 per cent to close at N20.50, while Conoil added 9.09 per cent to close at N154.00, per share.

On the other side, CWG led others on the losers’ chart with 10 per cent to close at N5.40, per share. NNFM followed with a decline of 9.94 per cent to close at N43.50, while Academy Press shed 9.93 per cent to close at N2.63, per share.

Learn Africa declined by 9.92 per cent to close at N3.36, while SCOA Nigeria lost 9.90 per cent to close at N1.73, per share.

The total volume traded increased by 47.72 per cent to 600.044 million units, valued at N8.805 billion, and exchanged in 9,546 deals. Transactions in the shares of Jaiz Bank led the activity with 237.240 million shares worth N545.605 million. United Bank for Africa (UBA) followed with 39.809 million shares valued at N956.950 million, while Access Holdings traded 28.483 million shares valued at N520.359 million.

Oando traded 26.611 million shares worth N2.439 billion, while R.T. Briscoe Nigeria traded 22.058 million shares worth N72.412 million.