Nigerian Stock Exchange Slumps, Sheds N21.17 billion To Selloffs In Wema Bank, Others

The valuation of the Nigerian stock exchange depreciated slightly to N30.32 trillion on Wednesday, shedding N21.17 billion.

According to the market data obtained from the Nigerian Exchange Limited (NGX), this is a 0.06 per cent decline when compared to Tuesday’s N30.34 trillion market capitalisation. 

The All-Share Index dropped by 38.9 basis points to 55,699.45 ASI, from the 55,738.35 ASI reported on Tuesday.

Following trading hours, over 357.94 million shares, worth N7.66 billion, were exchanged by investors in 6,520 deals on Wednesday.

This is against the N15.79 billion traded in 9,916 deals for 1.07 billion shares the day before. 

Top five gainers

• McNichols’ share appreciated by 10 per cent to rise from N0.70kobo to N0.77kobo per share.   
• Conoil grew by N5.25kobo, up from N52.70kobo to N57.95kobo per share.   
• MRS ended trading with N44.85kobo from N40.80kobo per share, rising by N4.05.   
• Neimeth gained N0.15kobo to end trading at N1.67kobo, having opened with N1.52kobo per share.   
• NCR’s stock was up by N0.27kobo, closing at N3.03 from N2.76kobo per share.   

Top five losers 

• Nascon depreciated by N1.65kobo, dwindling from N16.85kobo to N15.20kobo per share.   
• RT Briscoe also fell by 9.76 per cent to end trading at N0.37kobo, after opening at N0.41kobo per share.   
• Deap Capital followed the same path, losing 9.09 per cent after trading hours, to sell at N0.20kobo from N0.22kobo per share. 
• Tantalizer reported a decline of 8.70 per cent from the previous day’s share price of N0.23kobo to end trading at N0.21kobo per share.   
• Wema Bank’s share depreciated to N4 from N4.35kobo, after losing N0.35kobo per cent during trading hours. 

Top five trading equities in the stock exchange 

• UBA reported 62.88 million shares, valued at N622.99 million, were traded on its floor.   
• Access Corporation recorded 41.51 million shares valued at N499.48 million.   
• Sterling Bank saw investors trade 27.15 million of its shares valued at N54.44 million.   
• Geregu recorded 22.60 million shares exchanged on its floor, worth N6.69 billion.   
• GTCO reported 22.21 million shares, valued at N633.78 million, exchanged investors’ hands.

Fakoyejo Olalekan

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