Business
Nigeria’s capital market resumes with N90.1bn loss
Sell-off by investors was the main activity on the floor of the Nigerian capital market after the resumption of trading on Wednesday.
The bourse resumed from the two-day Eid-el-Kabir holiday with the shareholders’ investment drooping by -0.32 percent after eight hours of trading on Wednesday.
The equity capitalization dropped by N90.14 billion to close at N27.71 trillion, down from N27.80 trillion posted last Friday.
The All-Share Index was down by 167.16 basis points to settle at 51,390.25 as against 51,557.41 recorded last week.
Meanwhile, investors traded 198.81 million shares worth N2.18 billion in 4,769 deals on Wednesday.
This surpassed the 115.13 million shares valued at N1.77 billion traded by investors in 3,479 deals on Friday.
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CWG led the gainers with a 10 percent rise in share price to move from N0.80kobo to N0.88kobo per share.
Caverton gained N0.12kobo to move from N1.22kobo to N1.34kobo per share.
Academy’s share value was up by N0.18kobo to end trading with N2.07 from N1.89kobo per share.
RT Briscoe gained 8.82 percent to close at N0.37kobo from N0.34kobo per share.
International Breweries’ share appreciated by N0.40kobo to rise from N5.40kobo to N5.80kobo per share. Multiverse topped the losers’ chart after shedding N0.21kobo to drop from N2.10kobo to N1.89kobo per share.
Redstar Express’ share dropped by N0.27kobo to end trading at N2.48kobo from N2.75kobo per share. Cutix lost N0.20kobo to end trading with N2.20kobo from N2.40kobo per share. Unity Bank lost 8.16 percent to drop from N0.49kobo to N0.45kobo per share.
Livestock’s share dropped from N1.38kobo to N1.27kobo per share after losing N0.11kobo during trading. GTCO led the day’s trading with 51.89 million shares valued at N1.06 billion.
Japaul Gold followed with 21.91 million shares valued at N5.69 million. UBA traded 19.64 million shares worth N147.68 million. Jaiz Bank sold 12.54 million shares worth N11.07 million, while International Breweries traded 9.05 million valued at N52.26 million.