Wema Bank, Neimeth among top losers as market cap crashes

Neimeth, Wema bank and some other companies were among top losers on the Nigerian capital market as the equity capitalization dropped by 0.08 percent at the close of trading on Tuesday.

The equity capitalization dropped by N17 billion to close at N20.253 trillion compared to N20.270 trillion posted on Monday.

The All Share Index followed the same path as it dropped by 32.57 basis points to settle at 38,873.35 against the 38,906.42 recorded the previous day.

Investors traded 184.44 million shares worth N2.34 billion in 3,809 deals on Tuesday.

This was lower than the 190.95 million shares valued at N2.35 billion that exchanged hands in 3,462 deals on Monday.

Neimeth topped the losers’ chart after shedding 7.89 percent from its share price to drop from N1.90 kobo to N1.75kobo per share.

Chams share price declined from N0.23 kobo to N0.22kobo per share following a loss of 4.35 percent in its share price. Japaul Gold share price lost 4.08 percent to end trading at N0.49 kobo from N0.47kobo per share.

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Sovereign Insurance share price declined from N0.25 kobo to N0.24kobo per share after losing 4 percent in share price during trading. Wema Bank completed the list as its share price fell by 3.80 percent to end trading at N0.76 kobo from N0.79kobo per share.

MRS led the gainers’ chart after its share price rose by 9.75 percent to move from N13.85 kobo to N15.20kobo per share. Veritas Kapital share price was up by 9.52 percent to end trading at N0.23 kobo from N0.21kobo per share.

Regal Insurance share price increased by 6.82 percent from N0.44 kobo to N0.47 kobo per share, while Unity Bank’s share price also appreciated by 3.77 kobo to end trading with N0.55 kobo from N0.53 kobo per share.

Courtville’s share price rose by 3.23 percent to move from N0.31 kobo to N0.32kobo per share.

UBA was the most active stock as investors traded 38.99 million shares worth N297.64 million.

GTCO shares were traded at a volume of 19.03 million and valued at N517.86 million.

Zenith Bank was next with 14.19 million shares traded at a cost of N326.52 million.

United Capital reported 12.88 million shares worth N114.17 million, while Access Bank recorded over 10.08 million traded shares at a value of N90.17 million.