NSE: Investors Lose Further N68bn On 35 Equities Decline
Investors in the stock market Wednesday lost another N68 billion from their investment as the free fall in the market continues.
The loss was fueled by price depreciation in 35 companies led again by Cadbury Nigeria Plc and has therefore brought the total losses for the three trading days this week to N121 billion.
Analysis of the trading results showed that the market capitalisation, which represents investors’ wealth, slumped to N14.844 trillion against N14.913 trillion on Tuesday, representing 0.46 percent decline.
The All Share Index, ASI, fell by the same margin to settle at 41,495.43 points from 41,686.36 points.
Cadbury Nigeria Plc, which led the losers, declined by 9.64 percent to close at N12.65 from N14.00 per share.
Unitykapital Assurance Plc placed second, depreciating by 7.69 percent to close at N0.24 from N0.26; Axamansard Insurance Plc trailed behind with 7.41 percent decline to close at N2.50 from N2.70 per share.
Lafarge Africa Plc went down by 6.55 percent to close at N47.05 from N50.35, while Unity Bank Plc dipped by 6.11 percent to close at N1.23 from N1.31 per share.
Further analysis showed that Fidelity Bank Plc led the gainers, rising by 7.76 percent to close at N2.50 from N2.32, followed by GlaxoSmithKline Plc and Dangote Flour Mills Plc with five percent increase each to close at N22.05 and N15.75 per share respectively.
Guinness Nigeria Plc ranked fourth with 4.79 percent increase to close at N105.00 from N100.20, while FCMB Holdings Plc appreciated by 4.74 percent to close at N2.43 from N2.32 per share.
