Shareholders Lose N170bn In Stock Market | Independent Newspapers Limited
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Shareholders Lose N170bn In Stock Market

Posted: Jan 28, 2016 at 12:15 pm   /   by   /   comments (0)

Investors in the companies quoted on the nation’s stock market yesterday recorded a loss of about N170 billion as the local bourse extended losses for the second consecutive day. The market capitalisation of the Nigerian Stock Exchange (NSE), which gauges the value of listed stocks, stood at N8.024 trillion as against N8.194 trillion recorded the previous day, accounting for a loss of N170 billion.

Consequently, the All- Share Index shed 496.69 basis points or 2.09 per cent to close at 23,333.34 basis points as against 23,832 recorded the previous day while market sentiments closed on the red territory.

Meanwhile, a turnover of 260.4 million shares worth N1.7 billion in 3,465 deals was recorded in the day’s trading. The banking services sector was the most active during the day (measured by turnover volume); with 137.9 million shares worth N690.5 million exchanged by investors in 1,015 deals.

Volume in the sub-sector was largely driven by activities in the shares of UBA Plc and GTB Plc. Also, the Premium board sub-sector, boosted by activities in the shares of Zenith Bank Plc, followed with a turnover of 69.3 million shares valued at N616.4 million in 929 deals.

Further analysis of the day’s trading showed that Seplat Petroleum Plc topped the day’s gainers’ table with 8.26 per cent to close at 185.00 per share while Cadbury Nigeria Plc followed with 4.96 ,per cent to close at N16.71 kobo per share and AIICO Insurance Plc with a gain of 4.94 per cent to close at 85 kobo per share. On the flip side, Transcorp Plc led the losers with a drop of 9.16 per cent to close at N1.19 per share while UBA Plc shed 7.72 per cent to close at N2.75 per share. FCMB Plc trailed with 7.62 per cent to close at 0.97 kobo per share.