Investors lose big as capital market crashes on opening day

Investors in the Nigerian capital market lost N82.04 billion at the close of trading on Monday.

This represented a -0.34 percent drop in the value of investments in the capital market from N23.94 trillion to N23.86 trillion after eight hours of trading today.

Similarly, the All-Share Index slipped by 150.63 basis points to 43,818.12, down from 43,968.75 posted on Friday.

Investors traded 187.09 million shares worth N2.53 billion in 3,326 deals on Monday.

This fell short of the 209.70 million shares valued at N2.16 billion which exchanged hands in 2,942 deals last week.

FTN Cocoa led the gainers’ list with a 9.68 percent rise in share price, moving from N0.31kobo to N0.34kobo per share. Consolidated Hallmark Insurance gained 6.90 percent to move from N0.58kobo to N0.62kobo per share.

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Mansard’s share value was up by 5.88 percent to end trading with N1.62kobo from N1.53kobo per share. Chams gained 4.17 percent to close at N0.25kobo, above its opening price of N0.24kobo per share.

Union Bank’s shares traded upward by N0.20kobo to rise from N5.75kobo to N5.95kobo per share. John Holt topped the losers’ table after shedding 9.88 percent to drop from N0.81kobo to N0.73kobo per share.

SCOA’s share price dropped by N0.17kobo to end trading at N1.58kobo from N1.75kobo per share. Prestige lost 7.69 percent to end trading with N0.36kobo from N0.39kobo per share.

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Unity Bank lost 5.26 percent to drop from N0.57kobo to N0.54kobo per share.

African Prudential’s share price dropped from N5.35kobo to N5.10kobo per share after losing N0.25kobo during trading.

Access Corporation led the day’s trading with 87.92 million shares valued at 704.47 million. Zenith Bank traded 19.32 million shares worth N385.78 million Transcorp sold 10.67 million shares worth N11.61 million.

Unity Bank followed with 10.17 million shares valued at N5.33 million, while NGX Group traded 5.25 million shares valued at N112.84 million.