Investors count losses as market cap crashes

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Investors in the Nigerian stock market lost N4 billion at the start of trading this week following the crash in the market capitalization by 0.02 percent on Monday as market capitalization crashed from N20.455 trillion posted on Friday to N20.451 trillion.

The All Share Index was down by 8.12 basis points to settle at 39,252.89 compared to 39,261.01 reported on Friday.

Investors traded 210.95 million shares worth N1.38 billion in 3,989 deals on Monday.

This surpassed the 180.30 million shares valued at N1.72 billion that exchanged hands in 3,158 deals on Friday.

Linkage Assurance led the gainers’ chart after its share price appreciated by 8.93 percent to move from N0.56 kobo to N0.61kobo per share.

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FTN Cocoa’s share price was up by 8.89 percent to end trading at N0.49 kobo from N0.45kobo per share.

Mutual Benefit’s share price rose by 7.14 percent to move from N0.28 kobo to N0.30kobo per share at the end of trading.

Ecobank’s share price gained 5.77 percent to end trading with N5.50 kobo from N5.20kobo per share. Universal Insurance share price rose by 5 percent to move from N0.20 kobo to N0.21kobo per share.

GlaxoSmithKline topped the losers’ chart after shedding 9.56 percent from its share price to drop from N6.80 kobo to N6.15kobo per share.

Consolidated Hallmark Insurance share price declined from N0.58 kobo to N0.53kobo per share following a loss of 8.62 percent in its share price.

Sovereign Insurance share price plunged by 7.69 percent to end trading at N0.24 kobo from N0.26kobo per share.

May & Baker share price declined from N4.80 kobo to N4.48kobo per share after losing 6.67 percent in share price during trading.

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UPL completed the list as its share price fell by 6.03 percent to end trading at N1.09 kobo from N1.16kobo per share.

Access Bank was the most active stock as investors traded 30.52 million shares worth N282.14 million. Mutual Benefit shares were traded at a volume of 26.82 million and valued at N8 million.

Sovereign Insurance was next with 21.37 million shares traded at a cost of N5.13 million.

Universal Insurance reported 12.94 million shares worth N2.59 million, while Honeywell Flour recorded over 12.91 million traded shares at a value of N48.03 million.