Business
Investors count losses as profit-takers crash Nigeria’s capital market
Investors in various quoted companies on the Nigerian Stock Market are still counting their losses as profit-takers crashed the Nigerian capital market by 0.22 percent on Wednesday, costing shareholders N50 billion at the close of the day’s business.
Sell off had pushed back the market capitalisation to N22.62 trillion, down from the N22.67 trillion posted on Tuesday.
The All Share Index was down by 94.3 basis points to close at 43,349.9 compared to 43,444.2 posted the previous day.
Investors traded 264.78 million shares valued at N6.08 billion in 4,230 deals on Wednesday.
This was lower than 423.83 million shares worth N11.64 billion that exchanged hands in 4,181 deals on Tuesday.
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On the equities table, Associated Bus Transport topped the gainers’ list as its share price was up by 10 percent to end trading at N0.33kobo from N0.30kobo per share.
Chams share price rose by 4.55 percent to move from N0.22kobo per share to N0.23kobo per share at the end of trading.
Cutix share price was up by N0.10kobo to end trading with N3.35kobo from N3.25kobo per share.
Wema Bank gained 2.35 percent to move from N0.85kobo to N0.87kobo per share. Transcorp share price increased by 2.06 percent to move from N0.97kobo to N0.99kobo per share.
Japaul Gold led the losers’ chart after shedding 9.09 percent from its share price to drop from N0.44kobo to N0.40kobo per share.
Neimeth share price declined from N1.98kobo to N1.80kobo per share after losing N0.18kobo in its share price.
Unity Bank share price declined from N0.59kobo to N0.54kobo per share after losing 8.47 percent from its share price during trading.
Consolidated Hallmark Insurance completed the list as its share price lost N8.06 to end trading at N0.57kobo from N0.62kobo per share.
Unilever share price lost N1.10kobo to end trading at N13.50kobo from N14.60kobo per share.
At the end of trading today’s business, First Bank led the active trade with 68.61 million shares worth N856.17 billion.
International Breweries shares were traded at a volume of 36.69 million and valued at N201.82 million.
GTCO was next with 24.22 million shares traded at a cost of N644.04 million.
Unity Bank reported 9.50 million shares worth N5.14 million while Access Bank recorded over 9.46 million traded shares at a value of N87.28 million.