‘Downslope in equity capitalization’ Investors lose $120bn in 8 hours

Investors at the Nigerian capital market were disappointed with a slight loss to the tune of one hundred and twenty billion Naira after hours of trading yesterday.

Freelanews understands that the development is related to the downslope in equity capitalization by 0.47 per cent at the close of the day’s trading.

As contained in a report, the market capitalization dropped from N25.21 trillion, showing a slight margin from the previous day’s record of N25.09 trillion.

Similarly, the All-Share Index shed 222.65 basis points to close at 46,543.51 compared to 46,766.16 reported on Wednesday.

Investors parted with N2.35 billion for 244.04 million shares in 4,710 deals on Thursday.

This surpassed the N2.43 billion investors coughed out for 261.59 million shares in 4,668 deals the previous day.

Leading the gainers’ chart, however, Conoil ended the trading day with an N2.20kobo gain, a rise from N22.25kobo to N24.45kobo per share.

RT Briscoe’s share was up by 9.80 per cent to move from N0.51kobo to N0.56kobo per share.

Japaul Gold’s share appreciated by 9.68 per cent to move from N0.31kobo to N0.34kobo per share.

Meyer gained 9.57 per cent to end trading with N1.03 from N0.94kobo per share.

Regal Insurance completed the list after gaining 9.09 per cent to close at N0.36kobo from N0.33kobo per share.

Veritas Kapital led the losers’ chart, shedding 8.70 per cent to drop from N0.23kobo to N0.21kobo per share.

UAC Nigeria’s share dropped by N0.85kobo to end trading at N10.50kobo from N11.35kobo per share.

Transcohot’s share depreciated from N5.31kobo to N4.95kobo per share after losing N0.36kobo during trading.

UPDC REIT lost N0.10kobo to end trading with N3.30kobo from N3.40kobo per share.

Ecobank completed the list after losing N0.35kobo from its market price to drop from N12 to N11.65kobo per share.

UBA sold 15.63 million shares worth N121.32 million, while AccessCorp traded 12.91 million valued at N125.93 million.

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