Investors groan as Nigeria’s stock extends bearish run

The Nigerian stock market ended in the red zone on Friday following the crash in equity capitalization by 0.33 percent at the close of the day’s trading.

This represented a N80.85 billion loss for the shareholders as their total investment dropped from N24.032 trillion recorded on Thursday to N23.95 trillion today.

The All Share Index was down by 150.07 basis points to close at 44,454.67 compared to 44,604.74 posted on Thursday.

Investors traded 405.74 million shares valued at N9.82billion in 3,880 deals on Friday.

This surpassed the 321.75 million shares worth N3.65 billion that exchanged hands in 4,565 deals the previous day.

Fidson topped the gainers’ chart with its share price rising by N0.66kobo to move from N6.84kobo to N7.50kobo per share at the end of trading.

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Julius Berger’s share price increased by N0.80kobo to end trading with N22.80kobo from N22 per share.

Sterling Bank’s share price was up by 3.29 percent to move from N1.52kobo to N1.57kobo per share. UPDC gained 2.61 percent to move from N1.15kobo to N1.18kobo per share.

Regal Insurance share price was up by 2.22 percent to end trading at N0.46kobo from N0.45kobo per share. Sunu Assurance led the losers’ table with its share price declining from N0.34kobo to N0.31kobo per share after shedding 8.82 percent in its share price.

Cutix’s share price depreciated from N2.65kobo to N2.46kobo per share after losing N0.19kobo from its share price during trading.

Mutual Benefit’s share dropped 3.57 percent in value to end trading at N0.27kobo from N0.28kobo per share. Jaiz Bank lost 2.86 percent in share price to end trading at N0.68kobo from N0.70kobo per share.

Royal Exchange completed the list after shedding 2.44 percent from its share price to drop from N0.82kobo to N0.80kobo per share. BUA Foods led the day’s trading with 102.56 million shares worth N6.76 billion.

Transcorp traded 97.18 million valued at N110.21 million. Access Bank followed with 33.23 million shares valued at N315.79 million. First Bank sold 26.55 million shares worth N318.64 million while Jaiz Bank traded 25.94 million valued at N17.81 million.