Stock Market Loses N42bn

The Nigerian Exchange Ltd., (NGX) on Wednesday ended three consecutive sessions of gain with market capitalisation closing at N28.677 trillion from N28.719 trillion on Tuesday, representing a loss of N42 billion, or 0.14 per cent.

Similarly, the All Share Index (ASI) lost by 0.14 per cent to close at 53,193.98 points from 53,270.88 points the previous day.

The market breadth was negative as 16 stocks advanced and 18 stocks declined.

Caverton Plc topped the gainers’ chart, gaining 7.34 per cent to close at N1.17 per share.

FTNCocoa followed with 5.88 per cent to close at 36k, while Transcorp added by 5.69 per cent to close at N1.30 per share.

Cutix rose by 4.98 per cent to close at N2.74, while Linkage Assurance increased by 3.70 per cent to close at 56k per share.

On the other hand, Champion were up on the losers’ chart, dropping by 9.79 per cent to close at N3.88 per share.

Cornerstone Insurance decreased by 9.68 per cent to close at 62k per share.

Etranzact also lost by 9.67 per cent to close at N3, while NEM Insurance dipped by 8.33 per cent to close at N4.20 per share.

Japaul Gold lost by 6.25 per cent to close at 30k.

Transcorp maintained its leadership as the most active stock, exchanging 103.56 million shares valued at N131.25 million.

Fidelity Bank followed with 12.81 million shares worth N80.21 million, while First Bank of Nigeria Holdings (FBNH) traded 12.52 million shares valued at N130.63 million.

Japaul Oil sold 10.35 million shares worth N3.12 million, while Chams exchanged 7.81 million shares valued at N1.88 million.

The market turnover in 4,265 deal decreased to N1.86 billion from N2.75 billion recorded on Tuesday.

In all, investors bought and sold 382.46 million shares worth N4.23 billion in 5,999 deals.

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