Investors lose N146B on Nigerian Exchange

Nigerian Stock Exchange

Floor of The Nigerian Stock Exchange

By Chinyere Joel-Nwokeoma

Investors net worth on the Nigerian Exchange (NGX) Ltd dropped further by N146 billion on Friday due to losses posted by some blue chips.

Specifically, the market capitalisation lost N146 billion or 0.71 per cent to close at N20.278 trillion, from N20.424 trillion reported on Thursday.

Also, the NGX All-Share Index dipped 279.55 points or 0.71 per cent, returning to 38,000 mark, to 38,921.78 from 39,201.33 posted on Thursday.

Linkage Assurance topped the losers’ chart in percentage terms, shedding 6.56 per cent to close at 57k per share.

Cadbury followed with a loss of 5.88 per cent to close at N8, while NPF Microfinance Bank shed 5.71 per cent to close at N1.65 per share.

Airtel Africa dipped 4.67 per cent to close at N715, while Lasaco Assurance lost 4.41 per cent to close at N1.30 per share.

On the other hand, Veritas Kapital led the gainers’ table in percentage terms, gaining 9.52 per cent to close at 23k per share.

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AIICO Insurance followed with 4.21 per cent to close at 99k, while Japaul Gold gained 4.08 per cent to close at 51k per share.

ABC Transport Associated Company gained 2.94 per cent to close at 35k, while Livestock Feeds added 2.88 per cent to close at N2.14 per share.

United Bank for Africa was the most active stock during the day, exchanging 15.26 million shares valued at N116.73 million.

GTCO followed with an exchange of 12.16 million shares worth N328.58 million, while Linkage Assurance traded 11.71 million shares valued at N6.99 million.

Access Bank sold 11.280 million shares worth N105.06 million, while Fidelity exchanged 10.75 million shares valued at N24.76 million.

In all, investors traded 154.56 million shares valued at N2.27 billion in 3,467 deals, representing a decrease of 55.91 per cent.

This was in contrast with a total of 350.53 million shares worth N3.35 billion exchanged in 3,523 deals on Thursday.

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