Investors lose N182.3bn as massive sell-off grips Nigeria’s capital market

Investors in the Nigerian capital market lost N182.3 billion following the dip in equity capitalization by -0.63% at the close of trading on Wednesday.

The loss which was induced by a massive sell-off among investors, brought down the total investment at the bourse to N28.45 trillion, down from N28.63 trillion posted on Tuesday.

Similarly, the All-Share Index was down by 338.24 basis points to close at 53,113.64 compared to 52,775.4 achieved the previous day.

Investors traded 188.09 million shares worth N2.36 billion in 4,890 deals on Wednesday.

This, however, fell short of the 299.99 million shares valued at N3.09 billion which exchanged hands in 5,394 deals on Tuesday

Tripple G led the gainers with 9.20 percent to move from N0.87kobo to N0.95kobo per share. Learn Africa gained N0.13kobo to move from N2.37kobo to N2.50kobo per share.

Unity Bank’s share was up by 2.13 percent to end trading with N0.48kobo from N0.47kobo per share.

AIICO gained 1.56 percent to close at N0.65kobo from N0.64kobo per share.

Livestock’s share appreciated by 1.33 percent to rise from N1.50kobo to N1.52kobo per share. Meyer topped the losers’ chart after shedding N0.31kobo to drop from N3.10kobo to N2.79kobo per share.

Linkage Assurance shares dropped by 8.93 percent to end trading at N0.51 kobo from N0.56kobo per share. UBN lost N0.50kobo to end trading with N6 from N6.50kobo per share.

International Breweries share dropped from N7.35 kobo to N6.90kobo per share after losing N0.45kobo during trading. First Holdings lost N0.60 kobo to drop from N10.50 kobo to N9.90kobo per share. UBA led the day’s trading with 36.41 million shares valued at N278.55 million.

GTCO followed with 24.38 million shares valued at N531.29 million. First Bank Holdings traded 17.62 million shares worth N175.82 million. Sterling Bank sold 14.28 million shares worth N21.91 million, while Zenith Bank traded 12.84 million valued at N286.83 million.