Market continues negative run as investors lose N26bn

Trading transactions on The Nigerian Stock Exchange (NSE) on Wednesday continued on its downward trend that week opened with on Monday with the indices dropping by 0.28 per cent

The volume of shares traded declined by 46.87 per cent while the Market Capitalisation closed at N9.438 trillion against N9.464 trillion recorded with which it closed on Tuesday, leaving equities  investors  with a loss of N26 billion.

Also, the All-Share Index, which opened at 27,555.31, shed 77.27 points or 0.28 per cent to close at 27,478.04 due to price loses.

The highest price loss of the day was Total which recorded N13.97 to close at N290 per share. It was followed by Forte Oil which lost N10.57 to close at N127.30, while Ashaka Cement was marked down by investors by N1.46 to close at N13.57 per share.

Others are International Breweries which dropped 99k to close at N19 and Glaxosmithkline depreciated by 83k to close at N15.78 per share.

On the other hand, Stanbic IBTC led the gainers’ table by 50k to close at N17 per share; CAP also appreciated by 50k to close at N33.75 per share and Lafarge Africa rose by 30k to close at N43 per share.

Flour Mills added 23k to its opening value to close at N20 and Vitafoam advanced by 3k to close at N2.58 per share. In all, investors staked N592.52 million on 81.91 million shares traded in 2,520 deals. This was against a turnover of 154.16 million shares valued at N1.62 billion transacted in 2,510 deals traded on Tuesday.

The most traded stock of the day was FCMB Group as it traded 16.44 million shares worth N18.04 million. Transcorp came second with 8.57 million shares valued at N8.52 million, while United Capital sold 7.65 million shares worth N19.79 million.

The United Bank for Africa exchanged 7.02 million shares valued at N29.52 million, while Fidelity Bank accounted for 6.11 million shares worth N5.20 million.