Investors’ Loose N38b in four trading days As Stock Falls

Stock traders in the Nigerian Stock Exchange (NSE) sustained dominance on the equities sector of the market as most blue-chip stocks depreciated in price, resulting in the fall of investors’ wealth by N38 billion in four consecutive trading days.

The fall was witnessed at the close of trading on the floor of the stock exchange on Thursday.  

On resumption of trading on Monday, market capitalization stood at N13.027 trillion after fourth day trading on Thursday, capitalization dipped to N12.989 trillion which is 0.29% fall.

All-Share Index (ASI) lost 76.89 points or 0.28 percent from 26,990.59 to 26,913.70.
   
The loss on Thursday was as a result of losses recorded in medium and large capital stocks.Amongst the losers are; Arbico Plc, Fidson Healthcare, Access Bank, Med-View Airline and FBN Holdings.   
Among gainers are Dangote Sugar Refinery which appreciated by 8.03 percent to close at N14.80 per share, followed by UAC of Nigeria (UACN) which share appreciated by 6.62 percent to close at N8.05, also, Cutix appreciated by 4.05 percent to close at N1.54, per share.

Meanwhile, Med-View Airline led the losers’ and Cornerstone Insurance chart with 10 percent, each, to close at N1.62 and 63 kobo per share respectively.

Following the losers is Arbico Plc followed with 9.81 percent to close at N4.32, while Fidson Healthcare fell 9.33 to close at N3.40, per share.
 
Both Deap Capital Management and Trust and R.T Briscoe Nigeria joined the losers by 9.09 percent to close at 40 kobo and  8.70 percent to close at 21 kobo, per share respectively.

Volume of shares traded appreciated by 83.1 percent to 207.26 million shares worth N2.845 billion, traded in 3,842 deals.

Transactions in the shares of UACN topped the activity chart with 40.23 million shares valued at N315.899 million while Access Bank followed with 28.29 million shares worth N260.13 million.

Guaranty Trust Bank traded 27.73 million shares at N837.67 million and Zenith Bank traded 25.91 million shares valued at N484.60 million.

 Finally, FBN Holdings sold 23.77 million shares worth N159.21 million.