Stock Market Investors Lose N26.5b Wednesday

NSE

By Modupe Gbadeyanka

Investors at the Nigerian equities market lost about N26.5 billion at the end of trading activities on the Nigerian Stock Exchange (NSE) on Wednesday, October 19, 2016.

Since the beginning of trading of equities this week, the market has performed badly resulting into a total loss of about N105 billon on Monday and Tuesday alone.

Today, the all-share index dropped by 77.27 points or 0.28 percent to finish at 27,478.04 basis points.

The market capitalisation on Wednesday fell by N26.5 billion to close at N9.438 trillion compared to N9.464 trillion it ended the previous day.

Total led the losers’ chart today with a loss of N13.97k to close at N290 per share and was trailed by Forte Oil, which shed N10.57k to finish at N127.30k per share.

Ashaka Cement depreciated by N1.46k to end at N13.57k per share, International Breweries dipped by 99k to close at N19 per share and GlaxoSmithKline fell by 83k to finish at N15.78k per share.

Investors today exchanged a total of 81.913 million units of shares in 2,520 deals valued at N592.524 million.

The top gaining stocks today were led by Stanbic, which chalked up 50k to close at N17 per share and was followed closely by CAP, which also gained same amount to end at N33.75k per share, while WAPCO added by 30k to close at N43 per share.

Flour Mill went up by 23k to close at N20 per share and Access Bank grew by 3k to end at N5.55k per share.

FCMB emerged the most traded stocks on Wednesday with investors staking N18.043 million on 16.435 million of its shares, while Transcorp followed 8.570 million shares sold valued at N8.517 million. UCAP sold 7.650 million shares worth N19.797 million.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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