Stock Market: Over N16.14 billion Lost In Five Hours

The stock market closed with the equity capitalisation extending its downward trend with -0.05%, which wiped off N16.14 billion from the bourse, as pessimism tightens grip on investors.

Following the dip, the market capitalisation nosedive to N27.79 trillion from N27.81 trillion, trailing sell off among investors.

This was caused by the slump in All Share Index, which lost 29.96 basis points from the 51,586.5 ASI reported on Tuesday, to clock at 51,556.54 points.

Trading activities ended with investors exchanging 135.25 million shares on Wednesday, in 3,745 deals worth N1.43 billion.

Investors dropped their participation on the exchange floor, considering 234.60 million shares, worth N2.56 billion, was traded on Tuesday in 3,718 deals.

Top five gainers

• Academy gained N0.14kobo, after its stock price appreciated from N1.43kobo to N1.57kobo per share.
• Consolidated Hallmark Insurance reported an uptick of 8.70 percent, as its share rose from N0.69kobo to N0.75kobo per share.
• Japaul Gold share went up by 7.14 percent, rising to N0.29kobo from N0.27kobo per share.
• UPDC REIT saw its share price gain N0.15kobo, increasing to N3.60kobo from N3.45kobo per share.
• Chams recorded an appreciation of 4.17 percent, after the share went from N0.24kobo to N0.25kobo per share.

Top five losers

• NEM share depreciated by N0.38kobo, dwindling from N3.80kobo to N3.42kobo per share.
• Champion share dropped in value by N0.40kobo, to settle at N3.60kobo from N4 per share.
• UBN followed the same path, losing N0.60kobo after trading hours, to sell at N5.55kobo from N6.15kobo per share.
• UPL reported a decline of N0.23kobo in its share, depreciating from N2.58kobo to N2.35kobo per share.
• RT Briscoe share lost 7.50 percent from previous day’s N0.40kobo, dropping to N0.37kobo per share.

Top five trading equities

• Transcorp reported 15.55 million shares valued at N19.58 million, were traded on its floor.
• GTCO recorded 13.11 million shares valued at N267.08 million.
• UPDC saw investors trade 11.96 million of its shares worth N14.61 million.
• UBA 10.55 million shares worth N78.91 million were exchanged.
• Chams reported that 7.82 million shares exchanged hands of investors, valued at N1.94 million.

Fakoyejo Olalekan

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