Nigerian Investors lose N81 billion on the Nigerian Stock Exchange (NGX)
Join our social media community
In what seems to be a frown on investors’ faces as they traded with the Nigerian Stock Exchange (NGX), losing a total of N81 billion on Wednesday.
According to reports, the market capitalization declined from N66.577 trillion on Tuesday to N66.496 trillion on Wednesday. Displaying a 0.12 percent decline.
The All-share index wasn’t left out of the bearish decline as it moved from 105,931.18 reported on Tuesday to 105,800.85 on Wednesday. This denotes a 0.12 percent, or 130.33 points, decline.
The declines experienced by investors on Wednesday were attributed to the selling off of large stocks.
Amidst all the stock declines, University Press showed promise by experiencing a 10 percent growth, which led to the final stock price of N3.74, while Vitafoam also rose by 10 percent, closing at N52.80 per share.
Other stocks, such as Livestock feeds and C&I Leasing Plc, also experienced growth at 9.97 and 9.89 percent, finishing at N8.49 and N4.00 per share, respectively.
Another noteworthy gainer is McNichols Plc, which rose by 9.88 percent, closing at N1.89 per share.
The biggest losers on the stock market are Ecobank Transnational Incorporated, which fell by 10 percent and closed at N28.80 per share. International Breweries also dropped by 10 percent to close at N7.38 per share.
Ikeja Hotel Plc also declined by 9.89 percent, closing at N12.30, and Cadbury Nigeria came down to 9.80 percent, settling at N29.00 per share.
A total of 392.99 million shares worth N12.755 billion were exchanged across 17,519 transactions. This is in contrast to 733.05 million shares worth N35.288 billion that were traded by investors across 16,619 deals earlier.
Transactions in the shares of United Bank for Africa topped the activity chart with 38.858 million shares worth N1.36 billion.
Wema Bank followed with 26.616 million shares valued at N400 million, while Fidelity Bank transacted 25.39 million shares worth N525.05 million.
Join our social media community
Join Our Social Media Channels:
WhatsApp: NaijaEyes
Facebook: NaijaEyes
Twitter: NaijaEyes
Instagram: NaijaEyes
TikTok: NaijaEyes
