Nigerian Stock Market Records N43bn Decline In Market Capitalization

Trading activities on the Nigerian Exchange took a negative turn on Thursday, resulting in a loss of N43 billion in market capitalization. This decline was attributed to price depreciation in the shares of Nestle Nigeria Plc, Zenith Bank, GTCO Plc, Transcorp, RTBriscoe, and 20 other listed companies. Market capitalization of listed equities declined by 0.12 percent, falling from N36.896 trillion to N36.853 trillion compared to the previous day. The NGX All Share Index also depreciated, dropping by 79.10 basis points to reach 67,335.30 points, down from the 67,414.40 points traded on Wednesday. In the daily trading results, Chellaram Plc led the gainers’ table with a 10 percent increase in share price, closing at N3.85 per share. Learn Africa followed with a gain of 9.97 percent, closing at N3.31 per share. Academy Press gained 9.94 percent, closing at N1.88 per share, while Chi Plc added 9.52 percent to close at N0.92 per share. Courtvellle Business Solutions also added 9.26 percent, closing at N0.59 per unit. On the contrary, ETranzact topped the losers’ chart with a 10 percent drop, closing at N7.20 per share. Ikeja Hotel trailed with a loss of 9.84 percent, closing at N2.75 per share. ABC Transport fell by 9.78 percent, closing at N0.83 per unit. Guinea Insurance dipped by 9.38 percent, closing at N0.29 per share, and RTBriscoe declined by 9.09 percent, closing at N0.40 per unit. The volume of trades increased significantly by 218.91 million shares, representing a 38.43 percent rise. Investors traded 788.536 million shares valued at N14.169 billion in 8,810 deals, compared to 569.626 million shares worth N8.697 billion exchanged the previous day in 8,404 deals. Transactions in the shares of United Bank for Africa led market activity, with 304.025 million shares valued at N4.892 billion. Sterling Bank followed with an account of 82.476 million shares worth N313.285 million. Chi Plc traded 46.031 million shares, costing N37.801 million, while Oando Plc traded 36.690 million shares, costing N383.746 million. Fidelity Bank exchanged 31.399 million shares, costing N261.255 million.

As profit taking persists, Nigeria’s equity market sheds N112bn

Trading activities on the floor of Nigerian Exchange (NGX) Thursday continued on a negative note, shedding N112 billion as profit taking by investors persisted in the market. Profit taking in the shares of Dangote Sugar, Dangote Cement, Nascon impacted on the market at the end of the trading session. Specifically, market capitalisation of listed equities declined by 0.30 per cent to N37.261 trillion from N37.373 trillion reported the previous day. The NGX All Share Index also depreciated by 204.17 basis points to 68082.11 points from 68286.28 points reported on Wednesday. Betaglass led gainers table, gaining 9.97 per cent to close at N51.85 per unit, Cadbury Nigeria Plc followed with a gain of 9.86 per cent to close at N15.60 per share, CWG gained 9.81 per cent to N5.26 per unit, Tantalizer gained 9.52 per cent to close at N0.46 per share, Guinea Insurance added 9.09 per cent to close at N0.36 per share. On the contrary, Morison Industry recorded the highest loss with 9.89 per cent to close at N2.55 per unit, Courtvellle Business Solutions trailed with a loss of 7.69 per cent to close at N0.60 per unit, Nascon dipped by 6.83 per cent to close at N56.60 per unit, RTBriscoe went down by 6.82 per cent to close at N0.41 per share while Wema Bank dipped by 6.42 per cent to close at N5.10 per share. Investors traded 378.089 million shares valued at N8.376 billion in 8106 deals against 378.654 million shares valued at N5.482 billion in 7671 deals. Transactions in the shares of Oando led market activities with 91.635 million shares valued at N678.965 million, Omatek trailed with account of 29.972 million shares valued at N19.207 million, Dangote Sugar Refinery traded 23.393 million shares valued at N1.483 million, Fidelity Bank exchanged 22.165 million shares cost N193.576 million, AccessCorp exchanged 20.803 million shares cost N361.865 million.