Investors Lose N81bn In NGX

The stock market on Wednesday continued in a bearish territory, as investors in Nigerian Exchange Limited lost N81 billion.

This comes as market capitalisation declined by 0.12 percent, to N66.496 trillion on Wednesday from N66.577 trillion recorded on Tuesday.

The All-Share Index also dropped by 0.12 percent, or 130.33 points, to close at 105,800.85, down from 105,931.18 posted on the previous day.

The decline was largely attributed to sell-offs in large stocks.

However, the market breadth closed positive with 39 stocks advancing against 25 decliners.

On the gainers’ table, University Press grew by 10 percent, settling at N3.74, while Vitafoam also rose by 10 percent, closing at N52.80 per share.

Livestock Feeds soared by 9.97 percent, finishing at N8.49, and C & I Leasing Plc increased by 9.89 percent, to close at N4.00 per share.

McNichols Plc gained by 9.88 percent, closing at N1.89 per share.

On the losers’ table, Ecobank Transnational Incorporated fell by 10 percent, ending the session at N28.80, while International Breweries also dropped by 10 percent to close at N7.38 per share.

Ikeja Hotel Plc declined by 9.89 percent, closing at N12.30, and Cadbury Nigeria shed 9.80 percent, settling at N29.00 per share.

Similarly, Austin Laz and Company Plc lost by 9.52 percent, closing at N1.71 per share.

A total of 392.99 million shares worth N12.755 billion were exchanged across 17,519 transactions.