Investors at NSE loses N106bn

Investors in shares at the Nigerian Stock Exchange (NSE) lost N106 billion on Wednesday due to huge price losses recorded by some blue chips. The market capitalisation, which opened at N6.513 trillion, dropped by N106 billion or 1.63 per cent to close at N6.407 trillion.

Also, the All-Share Index lost 337.38 points or 1.63 per cent to close at 20,329.62 from the 20, 667.00 posted on Tuesday. Dangote Cement recorded the highest price loss of N5.80 to close at N110.20 per share. Larfarge Wapco followed with N2.27 to close at N43.23 per share, while PZ Cussons dropped N1.40 to close at N26.60 per share. Unilever also dipped by N1.39 to close at N28.91 per share, while Julius Berger shed N1.15 to close at N22.01 per share.
On the other hand, NewGold ETF led the gainers’ chart with a gain of N105 to close at N2, 765 per unit. UACN followed, appreciating by 56k to close at N29.07 per share, while Cadbury grew by 26k to close at N9.30 per share. Access Bank rose by 24k to close at N6.13 per share, while Eternal Oil gained 16k to close at N3.41 per share. The banking sub-sector accounted for 79 per cent of the total turnover on Wednesday as it traded 176.1 million shares valued at N623.1 million in 1,654 deals. UBA traded 112.1 million shares worth N191.5 million in 165 deals, while FBN sold 15.5 million shares worth N163.7 million in 460 deals.

The conglomerates sub-sector ranked second, exchanging 8.5 million shares worth N100.6 million in 205 deals. In all, a total of 222.6 million shares worth N1.4 billion were traded in 3,330 deals against the 860.3 million shares worth N2.6 billion exchanged in 3,784 deals on Tuesday.