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Capital market loses N246bn in six hours of trading

Capital market loses N246bn in six hours of tradingThe bears dominated trading activities on the Nigerian Stock Exchange on Friday with the market capitalisation losing N246bn in six hours of trading.

Specifically, the News Agency of Nigeria reports that the market capitalisation, which opened at N21.224tn shed N246bn to close at N20.978tn.

Similarly, the NSE All-Share Index decreased by 470.64 points or 1.16 per cent to close at 40,120.22 from 40,590.85 posted on Thursday.

A breakdown of the price movement shows that Dangote Cement topped the losers’ chart with N19.90 to close at N225 per share.

Lafarge Africa trailed with a loss of 10k to close at N22.30, while Vitafoam lost 5k to close at N8.95 per share.

Redstar Express dipped by 3k to close at N3.40, while UPL was also down by 3k to close at N1.25 per share.

On the other hand, Seplat led the gainers’ table, increasing by N45.10 to close at N496.10 per share.

Total followed with a gain of N13 to close at N143, while Okomu Oil garnered N2.50 to close at N92.50 per share.

Ardova added N1.45 to close at N16.35, while BOC Gas improved by N1.15 to close at N12.65 per share.

Access Bank was the most active stock exchanging, 35.11 million shares valued at N315.78m.

Transcorp followed with an account of 25.06 million shares worth N24.09m, while Guaranty Trust Bank traded 24.89 million shares valued at N821.26m.

Zenith Bank exchanged 23.69 million shares N606.29 million, while Japaul Gold sold 22.39 million shares cost N21.73m

In all, investors bought 333.31 million shares valued at N3.65bn exchanged in 5,142 deals.

This was against a total 2.13 billion shares worth N7.51 billion traded in 4,558 deals on Thursday.

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