Home Markets Stock market slumps again, investors lose N189bn

Stock market slumps again, investors lose N189bn


The Nigerian Bourse on Wednesday lost its recovery trend garnered on Tuesday, with the All Share Index (ASI) fell by 1.49 percent to close at 34,414.37 points against 34,933.68 points of the last trading session.

Market capitalization declined by 1.49 percent to settle at N12.564 trillion below N12.753 trillion of the last trading indicating a loss of N189 billion.

The volume and value of traded stocks dipped by 16.71 percent and 40.02 percent, closing at 200 million units and N2.1 billion respectively. 20 stocks closed positive against 26 that lost bringing the market breadth to a negative round off.

C&I Leasing led other percentage gainers closing 9.93 percent above the previous close of N2.72, to settle at N2.99 per share.

Consolidated Hallmark Insurance grew 8.57 percent, Jaiz Bank and Sterling Bank also gained 8.16 percent and 5.84 percent ahead of other 16 stocks on the gainers’ chart

Mutual Benefit tops the losers’ chart losing 10.00 percent of its share price. This is followed by Learnafrica, Chams and Law Union all shedding 9.82 percent, 9.68 percent and 9.59 percent respectively.

UBA traded the highest volume of about 22.4 million units of its share, in 218 deals, worth about N180 million. Stanbic traded about 19.2 million units of its share, valued at about N904 million at the close of today’s trading.