FTN Cocoa, Redstar Express, Others Drag Stock Market Cap Down By N49.80bn

Over N49.80 billion was lost to selloffs in FTN Cocoa, Redstar Express and others on the losers’ list, dragging the stock market capitalisation down to N35.79 trillion on Thursday, from N35.84 trillion.

The All-Share Index also closed down, dropping 90.99 basis points, to settle at 65,401.82 index, from 65,492.81 ASI.

About 583.08 million shares were traded in 6,968 deals on Thursday, worth N12.9 billion. This is against the 348.32 million shares, valued at N4.04 billion, that were traded in 6,237 deals on Wednesday.

Top five gainers 

• Dangote Sugar share appreciated by N4 to rise from N40 to N44 per share. 
• Nascon grew by N3.70 kobo, up from N40.70 kobo to N37 per share.     
• CWG ended trading with N4.95 kobo from N4.50 kobo per share, rising by N3.30 kobo     
• Transcorp gained N0.48 kobo to end trading at N5.28 kobo, having opened with N4.80 kobo per share.      
• Omatek’s share was up by 10 per cent, closing at N0.33 kobo from N0.30 kobo per share. 

Top five losers 

• FTN Cocoa depreciated by N0.20 kobo, dwindling from N2.01 to N1.81 kobo per share.       
• Redstar Express declined by N0.29 kobo to end trading at N2.63 kobo, after opening at N2.92 kobo per share.       
• Learn Africa followed the same path, losing N0.40 kobo after trading hours, to sell at N3.65 kobo from N4.05 per share.       
• NNFM reported a decline of N1 from the previous day’s share price of N12.05 to end trading at N12.05 per share.       
• Veritas Kapital’s share depreciated to N0.24 kobo from N0.26 kobo, after losing 7.69 per cent during trading hours.  

Top five trading equities in the stock exchange 

• Transcorp reported 144.48 million shares, valued at N724.31 million, were traded on its floor.       
• Sterling Financial Holdings recorded 63.33 million shares valued at N213.60 million.     
• Access Corporation saw investors trade 54.72 million shares valued at N880.01 million.     
• GTCO recorded 42.82 million shares exchanged on its floor, worth N1.54 billion.     
• Fidelity Bank reported 32.14 million shares, valued at N225.22 million, exchanged investors’ hands.

Fakoyejo Olalekan

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