Investors lose N36 billion to sell-offs

Investors on the stock market of the Nigerian Exchange Ltd. (NGX) lost N36 billion at the close of trading activities on Tuesday.

Specifically, the equity capitalisation which opened at N30.391 trillion, lost N36 billion to close at N30.355 trillion, representing a decline of 0.12 per cent.

Also, the All-Share Index (ASI) dropped  by 65.47 points or 0.12 per cent to close at 55,722.9 as against 55,788.37 recorded on Monday.

Enamewa led the gainers’ list with 9.57 per cent increase as it grew from N16.20 to close at N17.75 per share.

FTN Cocoa rose by 7.69 per cent to close  at 28k from 26k, while Sterling Bank inched up by 3.42 per cent from N1.46 to close at N1.51, per share.

UAC Nigeria grew by 3.26 per cent to close at N9.50, when compared with N9.20 per share with which it opened for the day.

Also, NGX Group rose by 2.69 per cent from N26 to close at N26.70, per share.

On the other hand, Chams led the losers’ table after losing eight per cent, from 25k at which it opened to close at 23k, per share.

Prestige Assurance fell by 7.32 per cent to close at 38k from 41k, while
Linkage Assurance dropped by 6.82 per cent to end trading with 41k from 44k, per share.

UPDC depreciated by 6.8 per cent closing at 96k as against N1.03,  while Wema Bank lost by 6.05, dropping from N4.30 to N4.04 per share.

Investors traded 199.26 million shares valued at N2.81 billion in 3,898 deals on Tuesday, compared with 179.02 million shares worth N2.54 billion traded in 4,296 deals the previous day.

Sterling Bank was the most trading stock, with 31.09 million shares amounting to N46.91 million.

Neimeth sold 20.17 million shares worth N31.67 million, while Zenith Bank traded 16.51 million shares worth N412.51 million.


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