Business

Investors lose N80.4bn as market cap crashes by 0.4%

The Nigerian stock market returned to the bearish zone on Monday following the loss of N80.43 billion at the close of the day’s business.

The development caused a 0.4 percent drop in the market capitalization from N21.29 trillion posted on Friday to N21.21 trillion today.

The All Share Index was down by 154.36 basis points to close at 40,714 compared to the 40,868.36 recorded on Friday.

Investors reduced their participation after trading 191.31 million shares valued at N2.59 billion in 4,395 deals on Monday.

This was in contrast to the 331.05 million shares worth N2.91 billion that exchanged hands in 3,986 deals on Friday.

NEM topped the gainers’ chart after its share price rose by N0.19kobo to move from N1.91kobo to N2.10kobo per share.

Ecobank share price was up by N0.60kobo to end trading at N0.6.90kobo from N6.30kobo per share.

Champion Breweries gained N0.20kobo to move from N2.10kobo to N2.30kobo per share at the end of trading.

Royal Exchange’s share price appreciated by 8.77 percent to end trading with N0.62kobo from N0.57kobo per share.

WAPCO’s share price rose by N1.15kobo to move from N23.35kobo to N24.50kobo per share.

Sovereign Insurance topped the losers’ chart after shedding 8.33 percent from its share price to drop from N0.24kobo to N0.22kobo per share.

READ ALSO: Investors pocket N20.4bn as market cap rises by 0.1%

Nigerian Breweries share price declined from N49.50kobo to N46.50kobo per share after losing N3 in its share price.

AIICO lost 5.26 percent to end trading at N0.90kobo from N0.95kobo per share.

UPL’s share price declined from N1.58kobo to N1.50kobo per share after losing 5.06 percent from its share price during trading.

Universal Insurance completed the list as its share price fell by 4.55 percent to end trading at N0.21kobo from N0.22kobo per share.

First Bank was the most active stock as investors traded 24.15 million shares worth N234.24 million.

Ecobank shares were traded at a volume of 19.33 million and valued at N130.35 million.

Chams was next with 17.69 million shares traded at a cost of N4.22 million.

Zenith Bank reported 12.22 million shares worth N300.71 million, while GTCO recorded 12.10 million traded shares at a value of N343.62 million.

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