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Business News of Wednesday, 29 September 2021


Investors lose N3bn as Nigeria’s stock market bearish trading persists

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The losing streak at the Nigerian capital market continued on Tuesday following a 0.01 percent crash in equity capitalization at the close of the day’s business.

The equity capitalization dropped by N3billion to close at N20.245 trillion from N20.248 trillion posted on Monday.

The All Share Index was down by 5.34 basis points to settle at 38, 858.99 compared to 38,864.33 recorded the previous day.

Investors traded 526.30 million shares valued at N3.04 billion in 3,535 deals on Tuesday.

This was in contrast to the 139.45 million shares worth N1.71 billion that exchanged hands in 3,539 deals on Monday.

In terms of company performance, Sky Aviation led the gainers’ chart after its share price rose by N0.40kobo to move from N4.05 to N4.45kobo per share.

Wema Bank’s share value was up by 5.13 percent to end trading at N0.82kobo from N0.78kobo per share.

Flour Mills boosted its share value by 1.87 percent to move from N29.35kobo to N29.90kobo per share at the end of trading.

United Capital share price appreciated by N0.15kobo to end trading with N8.70kobo from N8.55kobo per share.

Jaiz Bank’s share value rose by 1.72 percent to move from N0.58kobo to N0.59kobo per share.

Mansard topped the losers’ chart after shedding 9.70 percent from its share value to drop from N2.99kobo to N2.70kobo per share.

African Prudential share value declined from N6.40kobo to N5.85kobo per share after losing 8.59 percent in its share price.

Regal Insurance dropped by 6.82 percent to end trading at N0.41kobo from N0.44kobo per share.

Tripple Gee share price declined from N0.96kobo to N0.90kobo per share after losing 6.25 percent during trading.

Courtville completed the list as its share price fell by 5.71 percent to end trading at N0.33kobo from N0.35kobo per share.

Honeywell Flour was the most active stock as investors traded 402.18 million shares worth N1.52 billion.

UBA shares were traded at a volume of 11.12 million and valued at N82.70 million.

Transcorp was next with 9.47 million shares traded at a cost of N8.74 million.

Fidelity Bank reported 9.15 million shares worth N22.39 million, while Wema Bank recorded over 8.71 million traded shares at a value of N6.75 million.