Equity market sustains bearish run, sheds N58bn

Investors wealth depleted further yesterday, at the Nigerian Stock Exchange, declining by N58 billion.

Specifically, market capitalisation of listed equities declined further by 0.29 per cent to N20.202 trillion from N20.260 trillion reported on Monday.

The NSE All Share Index also depreciated by 110.72 basis points or 0.29 per cent to 20.601.83 points from 20712.55 traded the previous day.

Investor’s traded 208.807 million shares valued at N2.909 billion in 4013 deals against 194.024 million shares cost N1.372 billion in 4290 deals.

A review of the investment showed that Japaul Gold led gainers table, growing by 8.70 per cent to N0.75 kobo, Nahco followed with gain of 7.39 per cent to N2.18 kobo, Sterling Bank appreciated by 7.14 per cent to N1.80 kobo, Stanbic IBTC up by 5.75 per cent to N46.00, Chams PLC increased by 5.00 per cent to N0.21 kobo.

On the contrary, Guinness Nigeria Plc topped losers chart, dropping by 9.91 per cent to N24.10 kobo, Triple G trailed with a loss of 9.72 per cent to N0.65 kobo, NCR fell by 9.68 per cent to N2.52 kobo, Champion Breweries dipped by 9.09 per cent to N2.00 while Jaiz Bank sheds 7.69 per cent to N0.60 kobo.

The result further showed that Fidelity Bank was the toast of investors during the day, exchanging 38.564 million shares in 195 deals, GTBank followed with account of 32.832 million shares traded in 485 deals, FBNHoldings sold a total of 16.864 million in 151 deals, UACN exchanged 14.452 million in 125 deals while Zenith Bank sold a total of 10.944 million shares in 340 deals.

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