Business

Zenith Bank, FBN top trading as capital market sheds N386bn

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1 year ago

February 18, 2023

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Shareholders in the Nigerian capital market lost N386.2 billion in investment following the dip in equity capitalization by -1.30 percent on Friday.

After five hours of business on the trading floor, the market capitalization crashed from N29.69 trillion to N29.31 trillion to push the bourse into bearish territory.

Similarly, the All-Share Index depreciated by 715.74 basis points to close at 53,804.46 ASI, down from the 54,520.2 achieved on Thursday.

Investors traded 172.90 million shares worth N3.76 billion in 3,077 deals on Friday.

This surpassed the 125.86 million shares valued at N3.60 billion that exchanged hands in 2,670 deals the previous day.

Wapic led the gainers’ list with a 9.76 percent rise in share price moving from N0.41kobo to N0.45kobo per share. Tripple Gee gained N0.18kobo to move from N1.81kobo to N1.99kobo per share.

Living Trust’s share value was up by N0.13kobo to end trading at N0.45kobo from N0.41kobo per share.

UPDC’s shares traded upward by 4.17 percent to rise from N0.96kobo to N1 per share. Lasaco gained 4.08 percent to close at N1.02, above its opening price of N0.98kobo per share.

Pharmadeko topped the losers’ table after shedding N0.21kobo to drop from N2.10kobo to N1.89kobo per share. RT Briscoe’s share price dropped by 6.67 percent to end trading at N0.28kobo from N0.30kobo per share.

Airtel Africa lost N100 to end trading with N1560 from N1660 per share.

Fidelity Bank’s share dropped from N5.03 to N4.76kobo per share after losing N0.27kobo during trading. FCMB lost N0.17kobo to drop from N4.45kobo to N4.28kobo per share.

FBN Holdings led the day’s trading with 47.42 million shares valued at N561.22 million. Zenith Bank traded 16.89 million shares worth N427 million.

Access Corp sold 13.59 million shares worth N125.68 million. Fidelity Bank followed with 10.51 million shares valued at N52.24 million, while Transcorp traded 10.49 million shares valued at N12.70 million.