Investors on NSE lose further N68bn on Wednesday

Investors in stocks on the Nigerian Stock Exchange (NSE) lost another N68 billion from their investment as the free fall in the market continues.

Price depreciation in 35 stocks led again by Cadbury Nigeria Plc was to blame for the day’ trading situation. The total losses for the three trading days this week stood at N121 billion.

The market capitalisation slumped to N14.844 trillion against N14.913 trillion on Tuesday, representing 0.46 percent decline. The All Share Index (ASI) fell by the same margin to settle at 41,495.43 points from 41,686.36 points.

Cadbury Nigeria Plc led the losers as it declined by 9.64 percent to close at N12.65 from N14.00 per share. Unitykapital Assurance Plc placed second, depreciating by 7.69 percent to close at N0.24 from N0.26; Axamansard Insurance Plc trailed behind with 7.41 percent decline to close at N2.50 from N2.70 per share.

Lafarge Africa Plc went down by 6.55 percent to close at N47.05 from N50.35, while Unity Bank Plc dipped by 6.11 percent to close at N1.23 from N1.31 per share. Further analysis showed that Fidelity Bank Plc led the gainers, rising by 7.76 percent to close at N2.50 from N2.32, followed by GlaxoSmithKline Plc and Dangote Flour Mills Plc with five percent increase each to close at N22.05 and N15.75 per share respectively.

Guinness Nigeria Plc ranked fourth with 4.79 percent increase to close at N105.00 from N100.20, while FCMB Holdings Plc appreciated by 4.74 percent to close at N2.43 from N2.32 per share.