Capital market slopes downwards as investors lose N20b

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Factual Pursuit of Truth for Progress

About N20 billion was lost by shareholders in the Nigerian capital market after their total investment dropped by 0.05 percent on Wednesday.

The market capitalization dropped from N22.82 trillion to N20.80 trillion after a three-day high.

The All-Share Index was down by 23.25 basis points to close at 43,707.30 compared to 43,730.55 posted on Tuesday.

Investors traded 270.70 million shares valued at N5.62 billion in 3,861 deals on Wednesday, which is lower than the 280.71 million shares worth N3.47 billion that exchanged hands in 4,342 deals the previous day.

On the equities table, Neimeth topped the gainers’ list as its share price moved up by N0.18kobo to end trading at N1.98kobo from N1.80kobo per share.

Chams gained 9.09 percent to move from N0.22kobo to N0.24kobo per share at the end of trading.

Mutual Benefit’s share price was up by 8 percent to end trading with N0.27kobo from N0.25kobo per share.

Honeywell’s share price increased by N0.23kobo to move from N3.31kobo to N3.54kobo per share.

Caverton’s share price appreciated by N0.10kobo to move from N1.70kobo to N1.80kobo per share.

Redstar Express topped the losers’ chart after shedding N0.36kobo from its share price to drop from N3.65kobo to N3.29kobo per share.

Pharmdeko’s share price declined from N2.34kobo to N2.11kobo per share after losing N0.23kobo in its share price.

Associated Bus Transport lost 9.09 percent in share price to end trading at N0.30kobo from N0.33kobo per share.

FTN Cocoa’s share price declined from N0.44kobo to N0.40kobo per share after losing 9.09 percent from its share price during trading.

Consolidated Hallmark Insurance completed the list following the decline in its share price by 8.33 percent to end trading at N0.55kobo from N0.60kobo per share.

Flour Mill was the most active stock as it traded 50.59 million shares worth N1.47 million.

Transcorp shares were traded at a volume of 38.91 million and valued at N39.24 million.

First Bank was next with 21.49 million shares traded at a cost of N243.68 million.

While GTCO recorded over 14.57 million traded shares at a value of N402.95 million, Ecobank reported 19.15 million shares worth N164.49 million.

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