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Nigerian Equity Investors Lost N426bn



Nigerian stock exchange

Nigerian equity investors lost over N426bn ($2.3bn) in one session on Tuesday.

The Nigerian Stock Exchange market capitalization plunged from N9.926tn to N9.5tn, while the Nigerian All-Share Index declined 4.26 percent to 27,671.08 basis points from 28,902.25.

Total of 335.057 million shares estimated at N3.14bn were traded in 4,301 deals. A total of 39 shares depreciated, while stocks of nine companies appreciated in value.

Zenith Bank Plc, Ecobank Transnational Incorporated Plc, FBN Holdings Plc, Lafarge Africa Plc and United Bank for Africa were the top five losers.

The shares of Zenith Bank depreciated by N1.60 (9.65 per cent) to close at N14.96 from N16.58, while those of Ecobank shed N1.73 (9.58 per cent) to close at N16.32 from N18.05.

FBN Holdings share price also fell to N3.95 from N4.36, losing N0.41 (9.40 per cent), while that of WAPCO closed at N76.57 from N83.01, losing N6.44 (7.76 per cent).

UBA shares recorded a fall of N0.29 (5.75 per cent) to close at N4.75 from N5.04.

Other losers were Guaranty Trust Bank Plc, Tiger Branded Consumer Goods Plc, Stanbic IBTC Holdings Plc, Forte Oil Plc, Guinness Nigeria Plc, Fidelity bank Plc, UACN Plc, Eterna Plc, AIICO Insurance Plc, Nigerian Breweries Plc, Oando Plc, Access bank Plc, Honeywell Flour Mill Plc, Pharma-Deko Plc, Africa Prudential Registrars Plc, Flour Mills Nigeria Plc, UAC Property Development Company Plc, among others.

On the other hand, Trans-National Express Plc, ETranzact International Plc, University Press Plc, Continental Reinsurance Plc and Learn Africa Plc topped the gainers’ table.

Trans-National Express shares appreciated by N0.14 (9.21 per cent) to close at N1.66 from N1.52, while those of Etranzact gained N0.45 (8.98 per cent) to close at N5.46 from N5.01.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.