Nigerian Equities market loses N139.3bn in three days

Nigerian Equities market on the Nigerian Stock Exchange closed in the red on Thursday for the third consecutive session of the week and the year 2017 bringing the total lost by investors in three days to N139.3 billion.

According to National Daily investigation, equities descended further as the NSE All Share Index (ASI) and Market Capitalization dropped 1.07 percent

The ASI shed 282.95 points on Thursday to settle at 26,212.09 points while the market capitalization dropped N97.4 billion to settle at N9.019 trillion.

Leading the overall 16 losers on the Nigerian Stock Exchange floor is the Nigerian Aviation Handling Company Plc with a 9.49 per cent loss to close at N2.86 per share. Guinness came second with a loss of 5.00 per cent to close at N78.90 per share.

Dangote Flour fell 4.94 percent to close at N4.04 per share, while Custodian Allied Insurance depreciated 4.88 percent to close at N3.70 per share and Caverton Offshore dropped 4.44 percent to close at 86 kobo per share.

On the other hand UAC Prop led the day’s advancing stocks by 7.29 percent to close at N3.09 per share, Oando dropped 5.58 percent to close at N4.54 per share, Access Bank grew 4.96 percent to close at 6.14 per share, Diamond Bank Appreciated 4.65 percent to close at 90 kobo per share and Eterna Oil Plc gained 4.58 percent to close at N3.20 per share.

The day’s transactions were executed in 2,249 deals which represents a growth of 4.60 percent against previous session’s 2,150 deals. Investors also moved 137.7 million unit of equities in contrast to previous session’s 602 million unit.

Value of equities traded for the day dropped by 40 percent from previous session’s N1.204 billion to N898.7 million which was recorded for the day.

Top traded stocks in the course of the day were Fidelity Bank with 25.1 million units of shares valued at N21 million. Diamond Bank followed with approximately 17 million shares valued at N15.3 million while UCAP traded 11.0 million shares worth N31.8 million.

Transcorp traded 10.9 million shares for N9.7 million and UBA emerged the fifth most traded stock with 9.7 million shares worth N44.8 million.