Nigeria’s Stock Market Loses ₦203bn As Large-cap Stock Record Losses

Some Large-cap stocks recorded price losses as the Nigerian stock market declined by ₦20.3billion at the end of trading on the Nigerian Stock Exchange on Tuesday.

The NGX All-Share Index dipped by 37.83 basis points to close at 43,859.3 while the market capitalization of stocks fell from N23.65 trillion to N23.63 trillion.

Shareholders invested N6.76 billion on 294.53 million shares in 4,501 deals on Tuesday which was lower than the N8.64 billion investors spent on 311.25 million shares in 5,159 deals the previous day.

BUA Foods led the gainers’ chart as its share price rose by N5.85kobo to move from N58.50kobo to N64.35kobo per share at the end of trading.

Eterna’s share price was up by N0.27kobo to end trading with N5.57kobo from N5.30kobo per share while Union Bank’s share price increased by N0.25kobo to move from N5.40kobo to N5.65kobo per share.

Wema Bank gained 3.57 percent to move from N0.84kobo to N0.87kobo per share while Oando’s share price rose by N0.13kobo to end trading at N4.73kobo from N4.60kobo per share.

Mutual Benefit led the losers’ table with its share price declining from N0.30kobo to N0.27kobo per share after shedding 10 percent in its share price.

Berger’s share price dropped from N8.55kobo to N7.70kobo per share after losing N0.85kobo in its share price.

Also, UPDC REIT’s share price fell by N0.35kobo to end trading at N3.95kobo from N4.30kobo per share and Nestle lost N121.50kobo in share price to end trading at N1435 from N1556.50kobo per share.

Unity Bank completed the list after shedding 6.12 percent from its share price to drop from N0.49kobo to N0.46kobo per share.

Transcorp led the day’s trading with 58.35 million shares worth N57.36 million while BUA Foods traded 51.52 million valued at N3.31 billion.

First Bank followed with 16.50 million shares valued at N197.30 million while GTCO sold 14.05 million shares worth N358.21 million while Access Bank traded 13.33 million valued at N126.74 million.