Nigeria’s capital market down by N215.6bn amidst sell-off in BUA Cement, Caverton

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The equity capitalization in the Nigerian capital market dipped by 0.75 percent at the close of trading on Wednesday.

This translated to a N215.6 billion drop in market capitalization from N28.64 trillion to N28.42 trillion after five hours of trading today.

The crash in the value of investments at the capital market was largely caused by a sell-off in BUA Cement and Caverton during trading.

Similarly, the All-Share Index depreciated by 396.35 basis points to close at 52,209.06, down from 52,605.41 posted by the bourse on Tuesday.

Investors traded 554.31 million shares worth N5.95 billion in 5,168 deals on Wednesday.

This fell short of the 640.96 million shares valued at N7.132 billion traded by shareholders in 5,684 deals the previous day.

Ardova led the gainers’ list with a N2 rise in share price moving from N20 to N22 per share.

NCR’s share value was up by N0.21kobo to end trading at N2.33kobo from N2.12kobo per share.

Transcorp gained N0.19kobo to move from N1.96kobo to N2.15kobo per share.

Japaul Gold gained 9.68 percent to close at N0.34kobo, above its opening price of N0.31kobo per share.

CWG’s share price was up by N0.15 kobo, moving from N1.59 kobo to N1.74 kobo per share.

READ ALSO: Nigerian stock market cap loses N421.07bn

Caverton topped the losers’ table after shedding N0.11kobo to drop from N1.16kobo to N1.05 per share.

Sunu Assurance’s share price dropped by 9.26 percent to end trading at N0.49kobo from N0.54kobo per share.

BUA Cement lost N7.85kobo to end trading with N90 from N97.85kobo per share.

Academy’s share price dropped from N1.65kobo to N1.52kobo per share after losing N0.13kobo during trading.

Africa Prudential lost N0.25kobo to drop from N5.60kobo to N5.35kobo per share.

Access Corporation led the day’s trading with 139.28 million shares valued at N1.46 billion.

FBN Holdings followed with 100.75 million shares worth N1.20 billion.

FCMB sold 80.17 million shares worth N326.46 million.

UBA traded 42.93 million shares valued at N343.89 million, while Zenith Bank sold 24.48 million shares valued at N593.38 million.

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