Investors’ wealth dips by N94b in four trading days
Equity transactions on the trading floor of the Nigerian Stock Exchange (NSE), sustained sliding profile yesterday, even as more highly capitalised stocks recorded price depreciation, causing investors’ wealth to depreciate by N94billion in four trading days.
Specifically, the market capitalisation of listed equities fell by N94billion from N14.914trillion recorded on Monday to N14.820trillion yesterday, while the All-share index stood at 41,820 trillion, representing 0.6 per cent decline from 41,172.82 achieved on Monday.
Analysts at Afrinvest Securities Limited, said: “Despite the negative market performance, we anticipate a rebound in the market in the last trading session of the week due to bargain hunting opportunities in large cap stocks.”Yesterday, Seplat led the losers’ chart with N25.00 kobo to close at N725 per share, while Dangote Cement trailed with a loss of N3.00 to close at N245.00 per share.
Forte Oil declined by N85.00 kobo to close at N40.00 per share. National Salt Company of Nigeria shed N60.00 kobo to close at N20.40 per share, while Guaranty Trust Bank was down by N50.00 kobo to close at N44.50 per share.
On the other hand, Okomu Oil topped the gainers’ chart, adding N4.05 to close at N85.05 per share.Cement Company of Northern Nigeria followed with a gain of N2.45 to close at N27.05, while CAP appreciated by N1.80 kobo to close at N38.90 per share. MRS added N1.40 to close at N29.75, while Zenith Bank advanced by 45 kobo to close at N27.95 per share.
The volume of shares traded also closed lower dropping by 28.19 per cent, while value of shares transacted declined by 56.16 per cent.Investors traded 244.92 million shares valued at N4.09billion in 3,804 deals against 341.06 million shares worth N9.33billion transacted in 3,790 deals on Wednesday.
Zenith Bank was investors delight, exchanging 79.35 million shares valued at N2.18billion.Access Bank followed with an account of 19.91 million shares worth N224.92million, while United Bank for Africa sold 19.04 million shares valued at N223.24million.Fidelity Bank exchanged 13.39 million shares worth N33.56million, while CAP sold a total of 9.16 million shares valued at N356.38million.
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