Investors wealth depletes by N51bn

Transactions on the floor of Nigerian Exchange closed on the negative side depreciating by N51 billion, as loss in the Julius Berger, Northern Nigeria Flour Mills, Oando outweighed gains recorded in the shares of AccessCorp, Conoil Plc, Zenith, UBA and others.

Market capitalisation of listed equities went down by 0.09 per cent to N55.575 trillion from N55.626 trillion reported the previous day.

The NGX All Share Index also depreciated by 87.76 basis points to 96715.04 points from 96602.80 points traded the previous day.

A review of the investment showed that Caverton Business Solutions led gainers table, appreciating by 9.95 per cent to close at N2.10 per unit, Redstarex followed with a gain of 9.69 per cent to close at N3.85 per share, UPDC added 9.63 per cent to close at N1.48 per unit, Berger up by 9.33 per cent to close at N20.50 per unit, Conoil Plc added 9.09 per cent to close at N168.00 per share.

On the contrary, CWG topped losers’ chart, dropping 10 per cent to close N5.40 per unit, Northern Nigeria Flour Mills trailed with a loss of 9.94 per cent to close at N43.50 per unit, Academy Press fell by 9.93 per cent to close at N2.63 per share, LearnAfrica down by 9.92 per cent to close at N3.36 per unit, SCOA dropped by 9.90 per cent to close at N1.73 per share.

Volume of trades increased by 193.853 million representing 47.72 per cent as investors traded 600.043 million shares valued at N8.893 billion in 9546 deals against 406.19 million shares cost N13.31 billion in 12241 deals.

Trading in the shares of Jaiz Bank led market activities with 237.239 million shares valued at N545.605 million, United Bank for Africa followed with 39.809 million shares worth N956.950 million, AccessCorp exchanged 28.482 million shares valued N520.359 million, Oando Plc exchanged 26.611 million shares cost N2.438 billion while RTBriscoe traded 22.058 million shares cost N72.412 million.