Nigeria’s capital market suffers another dip

The sell-off persisted in the Nigerian capital market on Tuesday with investors losing N544.46 billion in investment at the close of the day’s trading.

After eight hours of trading, the bourse was down by -2.15 percent, bringing down the value of investments from N25.25 trillion to N24.70 trillion.

Similarly, the All-Share Index dipped by 999.63 basis points to drop from 46,365.95 to 45,366.32 today.

Meanwhile, investors coughed out N3.62 billion for 420.27 million shares in 3,486 deals on Tuesday.

This fell short of the N4.31 billion the investors splashed on 137.98 million shares in 3,234 deals the previous day.

United Capital led the gainers’ list with a N1.10kobo rise in share price to move from N11.35kobo to N12.45kobo per share. Regal Insurance gained 8.33 percent to move from N0.24kobo to N0.26kobo per share.

Sovereign Insurance’s share value was up by 7.69 percent to end trading with N0.28kobo from N0.26kobo per share. Mutual Benefit gained 7.41 percent to close at N0.29kobo, above its opening price of N0.27kobo per share.

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Honeywell Flour’s share traded upward by N0.16kobo to rise from N2.34kobo to N2.50kobo per share. Airtel Africa topped the losers’ table after shedding N162 to drop from N1620 to N1458 per share.

Nigerian Breweries share price dropped by N4.55kobo to end trading at N41.90kobo from N46.45kobo per share. CWG lost 8.64 percent to end trading with N0.74kobo from N0.81kobo per share.

Jaiz Bank lost 5.56 percent to drop from N0.90kobo to N0.85kobo per share. Courtville’s share dropped from N0.48kobo to N0.46kobo per share after losing 4.17 percent during trading.

CWG led the day’s trading with 258.79 million shares valued at N191.50 million. GTCO sold 57.41 million shares worth N1.06 billion. Zenith Bank followed with 13.15 million shares valued at N268.75 million.