Stock Market Investors Lose N391.19bn To Selloffs In Dangote Sugar, Others

Nigerian bourse recorded N391.19 billion loss on Monday after the stock market capitalisation fell to N35.01 trillion following selloffs in Dangote Sugar, Livestock, and others. 

Prime Business Africa gathered that the market capitalisation depreciated by 1.10 per cent, as it dropped from Friday’s N35.63 trillion.

Likewise, the All-Share Index dipped by 718.87 basis points to 64,337.52 ASI, from 65,056.39 ASI. 

About 673.42 million shares were traded in 9,788 deals on Monday, valued at N6.47 billion, against the 459.77 million shares, valued at N5.34 billion, that were exchanged in 8,051 deals last week Friday.

Top five gainers 

• Linkage Assurance’s share appreciated by 10 per cent to rise from N0.70 kobo to N0.77 kobo per share.    
• Sunu Assurance grew by 10 per cent, up from N0.60 kobo to N0.66 kobo per share.    
• Beta Glass ended trading at N38.50 kobo from N35 per share, rising by N3.50 kobo.    
• Mansard gained N0.34 kobo to end trading at N3.40 kobo, having opened with N3.74 kobo per share.     
• Berger’s stock was up by N1, closing at N11.05 from N10.05 per share.    

Top five losers 

• Dangote Sugar depreciated by N3, dwindling from N30 to N27 per share.      
• Livestock also declined by N0.21 kobo to end trading at N1.89 kobo, after opening at N2.10 kobo per share.      
• Caverton followed the same path, losing N0.13 kobo after trading hours, to sell at N1.17 kobo from N1.30 kobo per share.      
• NPF Microfinance reported a decline of N0.20 kobo from the previous day’s share price of N2 to end trading at N1.80 kobo per share.      
• Sovereign Insurance’s share depreciated to N0.63 kobo from N0.70 kobo, after losing 10 per cent during trading hours. 

Top five trading equities in the stock exchange 

• Abbey reported 112.25 million shares, valued at N112.27 million, were traded on its floor.      
• Fidelity Bank recorded 58.58 million shares valued at N503.70 million.    
• UBN saw investors trade 51.07 million shares valued at N357.55 million.    
• FCMB recorded 49.36 million shares exchanged on its floor, worth N323.67 million.    
• Universal Insurance reported 47.50 million shares, valued at N11.23 million, exchanged investors’ hands.

Fakoyejo Olalekan

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