Business

Selloffs in FBN Holdings, others wipe off N883.39bn from capital market

Published

10 months ago

July 12, 2023

Olusegun Odunewu

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Losses in FBN Holdings wiped off N883.39 billion from the Nigerian capital market on Wednesday.

The trading losses brought down the market capitalization from N35.75 trillion to N34.87 trillion after five hours of business today.

The All-Share Index dipped by 1,622.36 basis points to close at 64,046.93, down from the 65,669.29 posted by the bourse on Tuesday.

Investors traded 1.63 billion shares valued at N12.69 billion in 13,878 deals on Wednesday.

This surpassed the 844.71 million shares worth N9.41 billion traded by shareholders in 8,922 deals the previous day.

Deap Capital topped the gainers’ list after its share value rose by 10 percent to end trading at N0.33 kobo from N0.30 kobo per share. Courtville gained 10 percent to move from N0.80 kobo to N0.88 kobo per share.

Gold Breweries gained N0.24 kobo to close at N2.67 kobo, above its opening price of N2.43 kobo per share. TIP’s share price was up by 9.80 percent, moving from N0.51 kobo to N0.56 kobo per share.

Morison recorded a N0.23 kobo rise in share price, appreciating from N2.35 kobo to N2.58 kobo per share. Tantalizer topped the losers’ table after shedding 10 percent to drop from N0.30 kobo to N0.27 kobo per share.

FBN Holdings’ share price dropped by N2.15 kobo to end trading at N19.35 kobo from N21.50 kobo per share.

Academy lost N0.25 kobo to end trading with N2.25 kobo from N2.50 kobo per share.

Transcorp’s share dropped from N4.70 kobo to N4.23 kobo per share after losing N0.47 kobo during trading. Veritas Kapital lost 10 percent, dropping from N0.40 kobo to N0.36 kobo per share.

UBA led the day’s trading with 177.79 million shares valued at N2.44 billion. Japaul Gold followed with 110.25 million shares worth N147.74 million.

Transcorp sold 87.09 million shares worth N380.71 million. FCMB traded 86.47 million shares valued at N577.93 million, while Access Corp sold 65.44 million shares valued at N1.12 billion.