Nigeria’s stock market continues free fall as equity capitalization crashes

The Nigerian stock market trading losses continued on Thursday following the crash in equity capitalization by 0.07 percent at the close of the day’s business.

The development cost shareholders N16.50 billion as the total investment in the bourse depleted to N21.88 trillion compared to N21.90 trillion posted on Wednesday.

The investors’ low appetite forced the All-Share Index to drop by 31.62 basis points from 41,975.45 to 41,943.83 Thursday.

Investors traded 160.87 million shares valued at N1.40 billion in 3,688 deals on Thursday.

This was lower than the 292.93 million shares worth N2.05 billion that exchanged hands in 4,899 deals the previous day.

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SCOA topped the gainers’ chart after its share price rose by 9.47 percent to end trading at N1.4kobo from N0.95kobo per share.

Linkage Assurance share price was up by 7.55 percent to move from N0.53kobo to N0.57kobo per share at the end of trading.

Okomu Oil’s share price increased by N7 to end trading with N142 from N135 per share. AIICO gained 4.92 percent to move from N1.22kobo to N1.28kobo per share.

Honeywell’s share price appreciated by N0.16kobo to move from N3.48kobo to N3.64kobo per share.

Pharmadeko led the losers table after shedding N0.26kobo from its share price to drop from N2.60kobo to N2.34kobo per share.

Unilever’s share price declined from N15.60kobo to N14.25kobo per share after losing N1.35kobo in its share price.

Redstar Express lost N0.28kobo to end trading at N3.12kobo from N3.40kobo per share.

Royal Exchange share price declined from N0.52kobo to N0.48kobo per share after losing 7.69 percent from its share price during trading. Cutix completed the list after losing N0.45kobo to end trading at N5.55kobo from N6 per share.

First Bank was the most active stock as investors traded 19.51 million shares worth N208.29 million. Lasaco shares were traded at a volume of 10.60 million and valued at N10.62 million. Transcorp was next with 10.56 million shares traded at a cost of N10.65 million.

Japaul Gold reported 8.69 million shares worth N3.37 million while NGX Group recorded 8.08 million traded shares at a value of N154.06 million.