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 ₦23.65 trillion to ₦23.63 trillion.

Shareholders invested ₦6.76 billion on 294.53 million shares in 4,501 deals on Tuesday which was lower than the ₦8.64 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 ₦5.85kobo to move from ₦58.50kobo to ₦64.35kobo per share at the end of trading.

Eterna’s share price was up by N0.27kobo to end trading with ₦5.57kobo from ₦5.30kobo per share while Union Bank’s share price increased by N0.25kobo to move from ₦5.40kobo to ₦5.65kobo 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 ₦4.73kobo from ₦4.60kobo 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 ₦8.55kobo to ₦7.70kobo per share after losing N0.85kobo in its share price.

Also, UPDC REIT’s share price fell by N0.35kobo to end trading at ₦3.95kobo from ₦4.30kobo per share and Nestle lost ₦121.50kobo in share price to end trading at ₦1435 from ₦1556.50kobo 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 ₦57.36 million while BUA Foods traded 51.52 million valued at ₦3.31 billion.

First Bank followed with 16.50 million shares valued at ₦197.30 million while GTCO sold 14.05 million shares worth ₦358.21 million while Access Bank traded 13.33 million valued at ₦126.74 million.