Investors Lose N429.76bn To Sell-offs In Airtel Africa, Prestige, Others

Sell-off in Airtel Africa, Prestige, and other equities plunged the Nigerian market capitalisation by -1.52 per cent on Thursday, representing N429.76 billion loss.

As a result, the market capitalisation dropped to N27.70 trillion from N28.13 trillion.

This was due to the All Share Index, which lost 789.04 basis points from the 51,657.56 ASI of Wednesday, to close at 50,868.52 ASI after trading hours today.

Trading on Thursday ended with investors trading N1.82 billion for 138.71 million shares in 3,673 deals. 

During the previous session, N13.52 billion was exchanged in 4,156 deals for 265.72 million shares. 

Top five gainers 

John Holt’s share appreciated by 10 per cent to rise from N0.80kobo to N0.88kobo per share  

Honeywell Flour grew by N0.22kobo, up from N2.21kobo to N2.43kobo per share  

CWG ended trading with N1.01 from N0.92kobo per share, rising by 9.78 per cent. 

UAC Nigeria gained N0.50kobo to end trading at N10.75kobo, having opened with N10.25kobo 

Nigerian Breweries stock was up by N1.90kobo, closing with N47 from N45.10kobo per share 

Top five losers led by Airtel Africa, Prestige

Prestige depreciated by 8.70 per cent, dwindling from N0.46kobo to N0.42kobo per share. 

Airtel Africa also fell by N135 to end trading at N1500, after opening with N1635 per share. 

UPL followed the same path, losing N0.14kobo after trading hours, to sell at N1.76kobo from N1.90kobo per share.  

NPF Microfinance reported a decline of N0.12kobo from the previous day’s share price of N1.69kobo to end trading at N1.57kobo per share. 

Royal Exchange share depreciated to N1.03 from N1.10kobo, after losing 6.36 per cent during trading hours. 

Top five trading equities in the stock exchange 

Sterling Bank reported 29.15 million shares valued at N41.01 million were traded on its floor  

GTCO recorded 19.94 million shares valued at N477.76 million 

Access Corp saw investors trade 11.34 million of its shares valued at N99.85 million 

FBN Holdings recorded 10.99 million shares exchanged on its floor, worth N120.96 million 

Zenith Bank reported 6.24 million shares valued at N152.13 million exchanged in investors’ hands.

Fakoyejo Olalekan

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