Stock Market Investors Lose N11.3billion to Dismal Trade

The Nigerian Equities Market, on Wednesday, January 18, continued movements south from previous trading session as the lead market indicators.

Following the negative run, the market capitalisation settled at N9.030 trillion at the end of the day’s trading session with investors losing .

The Oil and Gas index recorded the highest loss for the day at -0.44 percent, following share price decline recorded in Forte Oil, Mobil and Oando. The consumer goods index was next with a depreciation of 0.19 percent while the NSE 30 fell 0.16 percent.

Investors’ appetite weakened further, as market breadth closed negative with 12 gainers paired against 20 losers.

Guinness and Portland Paints led the day’s declining stocks, with 5 percent each to close at N63.65, while A.G. Leventis led on the gainers table by 4.76 percent to close at 88 kobo.

Continental Reinsurance topped the activity chart for the day, with the sale of 149.6 million units of shares worth N164.5 billion.

Fidelity Bank followed with 51.6 million shares worth N48.0 million, while UCAP emerged the third most traded stock for the day with 30.2 million shares amounting to N105.5 million. Diamond Bank came fourth having traded 26.1 million units of shares valued at N31.4 million while UBA was fifth with 21.6 million shares worth N109.8 million.