Investors’ wealth plunge by N237b in three trading days

The bears strengthened their hold on the equities sector of the Nigerian Stock Exchange (NSE) yesterday, as virtually all the highly capitalised stocks suffered price depreciation, as investors’ wealth plunged by N237billion in three straight trading days.

Specifically, the market capitalisation of the NSE, which stood at N12.517trillion when the market closed for transactions on Monda, now stood at N12.280trillion, shedding N237billion or 1.9 per cent while the All-share index lost 688.18 per cent from 36,317.31 to 35,629.13.

Yesterday, investors during the day traded 239.906 million shares valued at N2.929billion in 4371 deals against 144.452 million shares worth N1.511billion in 3716 deals.

About 31 stocks depreciated in price, led by Mobil Oil with N8.68 kobo to close at N165.11 per share, while Dangote Cement trailed behind with a loss of N8.13 kobo to close N204.52 per share.  Guinness Nigeria Plc declined by N1.98 kobo to close N75.00 per share.

Forte Oil went down by N1.00 to close at N49.00 per share.  Unilever Nigeria Plc dropped by N0.71kobo to close at N39.29 per share. Dangote Sugar Refinery depreciated by 0.68 kobo to close at N13.22 per share.

Stanbic IBTC shed 0.50 kobo to close at N40.00 per share. Access Bank dropped 0.39 kobo to close at N9.61 per share. Dangote Flour Mills lost 0.25 kobo to close at N6.20 per share. FBN Holdings also shed 0.21 kobo to close at N5.68 per share.

On the other hand, Total Nigeria Plc led the gainers table for the day, adding N6.50 kobo to close at N243.00 per share. Nigerian Breweries followed with a gain of N1.40 kobo to close at N185.00 per share.