Investors lose N83 billion as NGX reopens bearish
The Nigerian Exchange Limited (NGX) sustained a sliding profile at the reopening of transactions yesterday, as virtually all the blue chip stocks, especially Lafarge WAPCO and Linkage Assurance depreciated in price, resulting in a further decline in market capitalisation by N83 billion.
Specifically, market capitalisation of listed equities declined by 0.38 per cent to N21.920 trillion from N22.003 trillion recorded on Friday.
Similarly, the All-Share Index (ASI) also depreciated by 159.31 points to 42, 008.60 points from 42,167.91 points.
Investors traded 422.180 million shares valued at N4.470 billion in 5059 deals against 180.953 million shares worth N2.425 billion in 4019 deals.
Further analysis of yesterday’s trading showed that Lafarge WAPCO emerged the day’s highest price loser, shedding 9.94 per cent to close at N22.40 kobo while Linkage Assurance trailed with a drop of 8.93 per cent to 51 kobo.
ABC Transport Associated Company lost 8.82 per cent to 31 kobo. Vitafoam depreciated by 8.68 per cent to close at N20. Fidelity Bank fell by 5.60 per cent to N2.36 kobo.
AIICO declined by 5.41 per cent to close at 70 kobo. United Bank for Africa dropped 5.06 per cent to close at N7.50 kobo. Chams shed 4.76 per cent to close at 20 kobo.
Eterna oil fell by 4.13 per cent to close at N5.80 kobo. Unilever also declined by 4.00 per cent to close at N13.20 kobo.
On the other hand, Royal Exchange led the gainers’ table, adding 9.43 per cent to close at 58 kobo. UPDC followed with a gain of 9.09 per cent to close at N1.08 kobo.
Chi gained 9.09 per cent to close at 48 kobo. Meyer Paint appreciated by 9.09 per cent to close at 24 kobo. Champion Breweries added 7.92 per cent to close at N2.59 kobo. Academy Press garnered 7.69 per cent to close at 42 kobo.
Jaiz Bank gained 4.69 per cent to close at 67 kobo. Regency Assurance added 2.56 per cent to close at 40 kobo. International Breweries appreciated by 2.04 per cent to close at N5 kobo. PZ Cussons also appreciated by 84 per cent to close at N6.
On the activity chart, FBNHoldings was the most active stock during the day, exchanging 128.865 million shares valued at N150.554 billion.
Sterling Bank followed with an account of 77.771 million shares worth N115.783 million; GTCO Plc traded 47.789 million shares valued at N1.146 billion.
United Capital sold a total of 20.960 million shares valued at N20.272 million while United Bank for Africa exchanged 185.936 million shares valued at N140 million.