Sell-Off in Wema Bank, Chams, Others Cost Stock Investors N35.66 billion

The market capitalisation of the Nigerian bourse settled at N30.35 trillion after trading hours on Tuesday, 14 March 2023.

Investors lost N35.66 billion when today’s equity capitalisation is compared to the N30.39 trillion recorded the previous day.

This was after the All-Share Index lost 65.47 basis points from Monday’s 55,788.37 ASI, to close at 55,722.9 ASI.

Investors exchanged 199.26 million shares in 3,898 deals on Tuesday, worth N2.81 billion. 

This is against the 179.02 million shares, worth N2.54 billion, that were traded a day before in 4,296 deals.

Top five gainers 

UPL’s share appreciated by N0.18kobo to rise from N1.82kobo to N2 per share         

CWG grew by N0.07, up from N0.91kobo to N0.98kobo per share    

Multiverse ended trading with N3.75kobo from N3.57kobo per share, rising by N0.18kobo.  

BUA Foods gained N4 to end trading at N99, having opened with N95 per share.     

Regal Insurance’s stock was up by N0.01, closing at N0.30obo from N0.29kobo per share    

Top five losers 

• Chams depreciated by 8 per cent, dwindling from N0.25kobo to N0.23kobo per share.        
• Prestige also fell by 7.32 per cent to end trading at N0.38kobo, after opening with N0.41kobo per share. 
• Linkage Assurance followed the same path, losing 6.82 per cent after trading hours, to sell at N0.38kobo from N0.41kobo per share.        
• UPDC reported a decline of 6.80 per cent from the previous day’s share price of N1.03 to end trading at N0.96kobo per share.        
• Wema Bank’s share depreciated to N4.04 from N4.30kobo, after losing N0.26kobo during trading hours.         

Top five trading equities in the stock exchange 

• Sterling Bank reported 31.09 million shares valued at N46.91 million was traded on its floor          
• Neimeth recorded 20.17 million shares valued at N31.67 million        
• Zenith Bank saw investors trade 16.51 million of its shares valued at N412.51 million        
• Chams recorded 16.11 million shares exchanged on its floor, worth N3.76 million        
• United Capital reported 12.76 million shares, valued at N185.86 million, exchanged investors’ hands

Fakoyejo Olalekan

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