Market capitalization was reduced by N25 billion as a result of losses suffered by numerous blue-chip stocks on the equities market of the Nigerian Exchange Limited (NGX).
In particular, market capitalization of listed stocks decreased by 0.10 percent to N24.094 trillion at the close of trading yesterday from N24.119 trillion recorded the day before.
Additionally, the All Share Index fell from 44283.02 points published the day before by 46.32 absolute points, to 44236.70 points.
Against 155.406 million shares worth N1.526 billion traded in 3796 deals, investors exchanged 215.154 million shares worth N1.905 billion in 3389 trades.
Prestige Insurance headed the pack of losers on the price movement chart, losing 9.80% to close at 46 kobo, while Caverton lagged behind with 9.38% to settle at 87 kobo. Unilever Nigeria Plc decreased by 8.29% to close at N9.95 kobo, while SUNU Assurance decreased by 8.57% to conclude at 32 kobo. Multiverse lost 8.25% of its value to finish at N4.24 kobo.
Ikeja Hotel lost 6.93% to end the day at 94 kobo, while Oando lost 5.92% to end the day at N4.13 kobo. Fidson closed at N8.69 kobo, down 3.98 percent. A 3.57 percent loss caused GEREGU to close at N110.90 kobo. Wapic Insurance decreased 2.78 percent as well, ending the day at 35 kobo.
UPDC Reits topped the list of gainers, rising 9.09% to settle at N3. Trans Express came next, rising 8.82% to close at 74 kobo. Japaul Gold increased by 7.69% to close at 28 kobo, while Champion Breweries increased by 7.81% to close at N3.45 kobo.
To close at N2.15 kobo, Cutix Plc had a 4.88 percent increase. The price of chams increased by 4.17 percent to 25 kobo. To close at 99 kobo, Jaiz Bank had a 3.13 percent increase. Increasing by 3.00 to close at N1.03 per share, livestock. To settle at N1.63 per share, Mansard gained 1.24 percent. 74% of shares in United Bank for Africa were acquired when it closed at N6.80 kobo.
According to Vetiva Dealings and Brokerage: “The 90m cross trade in AccessCorp helped improve activity, as the market closed out relatively quiet today. Barring any large volume trades tomorrow, we anticipate another tepid session.”
Transcorps came in second with an account of 16.068 million shares costing N16.713 million, Sterling Bank traded 12.256 million shares valued at N16.640 million, Fidelity Bank sold a total of 9.290 million shares for N38.190, and Zenith Bank sold a total of 7.190 million shares for N14.829 million. AccessCorps was the investor favorite, exchanging 112.333 million shares valued at N892.561 million.