Stock Investors Lose N152bn on Tuesday

• Stock Investors Lose N152bn on Tuesday

Investors on the Nigerian Stock Exchange lost a combined N152 billion on Tuesday as the continuous decline in the price of oil weighed on the exchange.

The market capitalisation of listed equities declined by N152 from N11.945 trillion recorded on Monday to N11.793 on Tuesday as the market remained negative.

The NSE All-Share Index dropped 815.91 basis points or 3.35 percent from 22,920 bps to 22,629.92.

Only for equities closed in the green while 27 closed in the red with Champion Breweries Plc and Oando Plc among other blue-chip firms leading.

Total shares of 250.3 million were exchanged in 4,877 deals during the trading day.

However, in terms of volume traded, the premium subsector led with 158.95 million shares traded in 2,353 transactions.

Accordingly, the subsector was boosted by the increase in activities of the FBNH Plc and Zenith Bank Plc.

In the banking subsector, surged in activities of Fidelity Bank Plc and GTBank Plc bolstered the subsector with a turnover of 43.2 million shares traded in 865 transactions.

Top gainers were Omomor Bank Plc with nine percent gain to close at 60 kobo per share; NPF MFB Plc gained 8.70 percent to close at N1.25 per share and Lasaco Insurance Plc with 4.17 percent to close at 25 kobo per share.

Champion Breweries Plc and Oando Plc led losers’ chart with a 10 percent decline each to close at 81 kobo and N2.25 per share, respectively. Wapco Nigeria Plc trailed the two with 9.21 percent to close at N10.35 per share. Fidelity Bank Plc added 8.99 per cent to close at N1.72 per share.