Investors lose N18.89bn in first trading day as equity capitalization crashes

Following the Monday equity capitalization drop to N26.66 trillion, investors in the Nigerian stock market lost a whopping N18.89 billion, 0.07 percent less than the N26.68 trillion that the exchange reported on Friday.

The All-Share Index also lost 35.03 basis points, closing at 49,440.21, a decrease from the previous week’s high of 49,475.24. In 3,386 deals on Monday, investors transacted 67.36 million shares for N1.48 billion.

This was below the 3,462 transactions involving 197.45 million shares for N2.94 billion last Friday.

ETranzact topped the list of gainers with a N0.29 billion increase in share price, going from N2.91 to N3.20 per share. Academy gained N0.16kobo to move from N1.68kobo to N1.84kobo per share.

Vitafoam’s share value was up by N1 to end trading with N21 from N20 per share. Honeywell Flour gained 3.36 percent to close at N2.46kobo, above its opening price of N2.38kobo per share.

Cornerstone’s share traded upward by 3.33 percent to rise from N0.60kobo to N0.62kobo per share. Associated Bus Transport topped the losers’ table after shedding 10 percent to drop from N0.30kobo to N0.27kobo per share.

UPL’s share price dropped by 6.90 percent to end trading at N1.63kobo from N1.80kobo per share.

Mutual Benefit lost 6.90 percent to end trading with N0.27kobo from N0.29kobo per share. RT Briscoe lost 6.25 percent to drop from N0.32kobo to N0.30kobo per share.

Courtville’s share dropped from N0.49kobo to N0.46kobo per share after losing 6.12 percent during trading. First Bank led the day’s trading with 9.67 million shares valued at N96.55 million.

Zenith Bank sold 9.25 million shares worth N182.38 million. GTCO followed with 6.11 million shares valued at N120.39 million. Mutual Benefit traded 4.48 million shares worth N1.24 million, while Sovereign Insurance traded 2.95 million valued at N797,719.