Investors lose N122.34bn as Sterling Bank, Champion Breweries drag Nigeria’s stock market down

Investors in the Nigerian Stock Exchange (NSE) lost N122.34 billion on Tuesday as the equity capitalization slipped to N20.76 trillion at the end of trading.

Trading ended on the floor of the stock market on Monday with the equity capitalization standing at N20.89 trillion.

The volume of traded shares also dropped to 222.57 million on Tuesday, below the 543.98 million shares investors traded the previous day.

The bears caused the All Share Index (ASI) to plunge by 0.59 percent as it ended Tuesday’s market with 39,697.62 compared to 39,931.63 reported on Monday.

Deals sealed by investors also declined with the stock market recording 4,470 completed deals on Tuesday.

However, this was below the 4,673 deals sealed on Monday.

Value of shares, however, increased from N1.81 billion to N5.39 billion at the end of trading.

Academy share price increased from N0.41kobo to N0.45kobo following a gain of 9.76 percent in its share price.

PZ share price rose by N0.45kobo and moved from N4.8kobo to N5.25kobo.

Betaglass made the list after gaining N4 in share price which increased from N50 to N54.4kobo.

Royal Exchange share price rose by 8 percent to end trading at N0.27kobo from N0.25kobo.

Regency Assurance recorded 7.69 percent growth and moved from N0.26kobo to N0.28kobo per share at the end of trading.

Mutual Benefit topped the losers’ list after shedding 10 percent in share price to drop from N0.4kobo to N0.36kobo at the end of trading.

Ardova’s share price dropped from N18.05 to N16.25kobo following a loss of N1.8kobo in its share price.

Champion Breweries share price plunged by 9.69 percent to end trading at N2.05 per share from N2.27kobo.

The Initiates Plc share price declined from N0.52kobo to N0.47kobo per share after losing 9.62 percent in share price during trading.

Sterling Bank completed the list as its share price fell by N0.14kobo to end trading at N1.46kobo per share having opened trade with N1.6kobo.

For traded shares, Zenith Bank was the most active stock on Tuesday as investors traded 48.10 million shares worth N1.23 billion.

United Capital shares were traded at a volume of 20.23 million and valued at N121.97 million.

Mutual Benefit was next with 19.44 million shares traded at a cost of N7.22 million.

Japaul Gold reported 17.05 million shares worth N10.48 million, while Mansard recorded over 8.97 million traded shares at a value of N9.37 million.