Investors lose N18 billion on Nigerian Stock Exchange


The free fall of shares continued on Thursday on the Nigerian Stock Exchange (NSE) for the fourth consecutive day with investors losing N18 billion due to persistent profit taking.

The News Agency of Nigeria reports that the market capitalisation lost N18 billion or 0.20 per cent to close at N8.812 trillion against N8.830 trillion recorded at the close of trading on Wednesday.

Similarly, the All-Share Index which opened at 25,653.14 shed 53.33 points or 0.21 per cent to close at 25,599.79.

Total recorded the highest price loss, leading the losers’ pack with N13.97 to close at N276.05 per share.

It was trailed by Forte Oil with a loss of N4.35 to close at N82.67 and CAP declined by N1.68 to close at N33.75 per share.

Glaxosmithkline lost 71k to close at N13.54, while Cadbury depreciated by 52k to close at N10.05 per share.

Conversely, NASCON topped the gainers’ table, with a gain of 37k to close at N7.88 per share.

Ecobank Transnational followed with a gain of 29k to close at N10 and Nigerian Breweries increased by 16k to close at N141.19 per share.

Access Bank appreciated by 10k to close at N5.50, while Oando rose by 8k to close at N3.78 per share.

NAN also reports that the volume of shares traded closed higher with an exchange of 161.59 million shares valued at N1.19 billion transacted by investors in 2,086 deals.

This was against a turnover of 145.74 million shares worth N1.35 billion exchanged in 2,421 deals on Wednesday.

Guaranty Trust Bank was the most traded stock, exchanging 29.18 million shares worth N627.33 million.

Staco Insurance came second having accounted for 25.68 million shares valued at N12.84 million and Transcorp sold 17.68 million shares worth N12.45 million.

Diamond Bank accounted for 13.26 million shares valued at N11.81 million, while Wema Bank traded 10.23 million worth N5.83 million.


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