Investors’ wealth depreciates further by N55 billion

nsePRICE losses incurred by virtually all the blue chip companies on the trading floor of the Nigerian Stock Exchange yesterday pulled market capitalisation by N55 billion.

Specifically, at the closed of trading yesterday, the market capitalisation of listed equities went down by N55 billion or 0.51 per cent to N10.662 trillion from N10.717 trillion recorded the previous day. Also the NSE All Share Index dropped by 162.80 basis points to 31107.11 points from 31269.71 recorded the previous day.

On the price movement chart, 35 stocks depreciated in price, led by skye bank with 5.80 per cent to close at N1.95 per share while Stanbic IBTC followed with 5.00 per cent to close at N19.95 per share.

NPFMicro finance bank lost 5.00 per cent to close at N0.95 per share. Flourmill shed 4.98 per cent to close at N28.03 per share.
Dangote flourmills, Mobil, May&Baker dropped 4.97,4.97 and 4.90 per cent to close at N3.06, N156.80 and N1.36 per share.

Unity bank shed 4.88 per cent to close at N1.95 per share. RedStarExpress shed 4.81 per cent to close at N3.96 per share.
RT Briscoe also shed 4.62 per cent to close at N0.62 per share.

On the other hand, Evans Medical emerged the day’s highest price gainer, adding 8.99 per cent to close at N0.97 per share. Portland Paints followed with 4.77 per cent to close at N3.95 per share. Wema Bank gained 4.65 per cent to close at N0.90 per share. Academy press added 3.90 per cent to close at N0.80 per share.

FO, Custodian &Allied, Eternaoil garnered 3.42,2.44 and 1.98 per cent to close at N212.00,N4.20 and N2.06 per share.
TransNational Corporation gained 0.41 per cent to close at N2.44 per share while Nigerian Breweries added 0.40 per cent to close at N126.50 per share.

Further analysis of the investment showed that Standard Trust Insurance recorded the highest volume of activities, trading 250.000 million shares worth N125.000, Access Bank followed with 72.209 million shares valued at N333.708 million, Guaranty Trust Bank traded 15.292 million shares valued at N365.805 million, FBNHoldings sold 12.269 million shares worth N83.161 and UBA exchanged 11.555 million shares worth N45.700.