Investors lose N59bn in Equity Market

Salamatu Ejembi, Lagos


Transactions on the equities Market of the Nigerian Stock Exchange ended with the All Share Index closing at 26,866.41 basis points, 0.45% or 121.04 basis points lower from Friday’s close of 26,987.45 basis points.

The Market Capitalisation also fell by 0.45% or 59 billion Naira to close trading on Monday at 13,078 trillion Naira compared with previous closing of 13,137 on Friday.

The market traded 151,715 million units of Shares valued at N1,504 billion Naira in 2,854 deals.

FCMB emerged the most traded stock with 55,672 million units of shares traded at N89,062 million.

Seventeen stocks recorded gains, 16 stock’s declined while all other remained unchanged.

Top on Monday’s gainers’ list is COURTEVILLE BUSINESS SOLUTIONS PLC which opened trading at 0.20k per share and closed at 0.22k per share, gaining 0.02k or 10.00 percent. AFRICA PRUDENTIAL PLC opened at N3.52k per share and closed at N3.87k per share, gaining 0.35k or 9.94 percent. Then, ASSOCIATED BUS COMPANY PLC opened at 0.34k per share and closed at 0.37k per share, gaining 0.03k or 8.82 percent.

Conversely however, CORNERSTONE INSURANCE PLC led the losers’chart with a closing price of 0.36k per share, 0.04k or 10.00 percent decline from Friday’s close of 0.40k per share. While SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC  fell from N555 per share to N517 per share by N38 or 6.85 percent. Then CADBURY NIGERIA PLC fell to N9.85k per share on Monday by 0.60k or 5.74 percent from Friday’s price of N10.45k per share.

Meanwhile, a total turnover of 660.654 million shares worth N9.189 billion in 12,032 deals were traded last week by investors on the floor of the Exchange in contrast to a total of 1.097 billion shares valued at N16.693 billion that exchanged hands in the preceding week in 14,717 deals.


Confidence Okwuchi