Home Business Bears takeover of Nigeria capital market costs shareholders N58.34bn

Bears takeover of Nigeria capital market costs shareholders N58.34bn


The bears maintained control of the Nigeria capital market on Tuesday and pushed down total investment at the bourse by 0.22 percent.

The bearish mood cost shareholders N58.34 billion with the equity capitalisation dropping from N25.47 trillion to N25.41 trillion at the close of the day’s business.

The All-Share Index was down by 108.26 basis points to close at 47,154.35 compared to 47,262.61 achieved the previous day.

Investors traded 754.93 million shares worth N3.63 billion in 4,330 deals on Tuesday.

This surpassed the 291.88 million shares valued at N2.85 billion which exchanged hands in 4,792 deals on Monday.

Niger Insurance led the gainers’ table following the rise in its share price by 9.52 percent to close at N0.23kobo from N0.21kobo per share.

Consolidated Hallmark Insurance share price was up by 8.47 percent to rise from N0.59kobo to N0.64kobo per share.

Cutix share rose by N0.19kobo to move from N2.29kobo to N2.48kobo per share.

NGX Group’s share appreciated by N1.45kobo to move from N20.80kobo to N22.25kobo per share.

UPDC’s share value increased by 5.56 percent to end trading with N0.95kobo from N0.90kobo per share.

Conoil topped the losers chart, shedding N2.65kobo to drop from N26.50kobo to N23.85kobo per share.

Jaiz Bank’s share depreciated from N0.80kobo to N0.72kobo per share after losing 10 percent during trading.

UPL’s share price dropped by N0.29kobo to end trading at N2.62kobo from N2.91kobo per share.

NEM lost N0.39kobo to end trading with N3.56kobo from N3.95kobo per share.

RT Briscoe completed the list after shedding 9.68 percent from its market price to drop from N0.62kobo to N0.56kobo per share.

Unity Bank led the equities trading with 525.27 million share valued at N262.46 million.

GTBank followed with 29.35 million shares valued at N766.26 million.

UBA exchanged 17.98 million shares worth N151.23 million.

Zenith Bank sold 14.26 million shares worth N382.95 million, while Japaul Gold traded 13.20 million valued at N4.59 million.

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