Bear takeover of Nigerian capital market costs shareholders N58.34 billion


The bears maintained control of the Nigerian capital market on Tuesday and dragged down total investment in the stock market by 0.22%.

The bearish mood cost shareholders 58.34 trillion naira, with share capitalization dropping from 25.47 trillion naira to 25.41 trillion naira at the close of the day.

The All-Share index fell 108.26 basis points to close at 47,154.35 from 47,262.61 reached the previous day.

Investors traded 754.93 million shares worth N3.63 billion in 4,330 trades on Tuesday.

This topped the 291.88 million shares valued at 2.85 billion naira that traded hands in 4,792 trades on Monday.

Niger Insurance led the winners’ board as its share price rose 9.52% to close at N0.23kobo from N0.21kobo per share.

Hallmark Insurance’s consolidated share price rose 8.47% from 0.59 kob to 0.64 kob per share.

Cutix stock rose by N0.19kobo from N2.29kobo to N2.48kobo per share.

NGX Group’s share rose by N1.45kobo to go from N20.80kobo to N22.25kobo per share.

READ ALSO: NGX roundup: Investors trade 1.37 billion shares worth N23.7 billion in 5 days

UPDC’s share value rose 5.56% to end trading with N0.95kobo from N0.90kobo per share.

Conoil leads the losers chart, losing N2.65kobo to drop from N26.50kobo to N23.85kobo per share.

Jaiz Bank’s stock fell from N0.80kobo to N0.72kobo per share after losing 10% during trading.

UPL’s share price fell N0.29kobo to end trading at N2.62kobo from N2.91kobo per share.

NEM lost N0.39kobo to end trading with N3.56kobo of N3.95kobo per share.

RT Briscoe topped the list after losing 9.68% of its market price to drop from N0.62kobo to N0.56kobo per share.

Unity Bank led the share trading with 525.27 million shares valued at N262.46 million.

GTBank followed with 29.35 million shares valued at N766.26 million.

UBA traded 17.98 million shares worth N151.23 million.

Zenith Bank sold 14.26 million shares worth N382.95 million, while Japaul Gold traded 13.20 million worth N4.59 million.

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