Investors lose N120 billion in Nigeria’s capital market due to a significant sell-off.
On Monday, investors in Nigeria’s stock market lost N120 billion as the bourse experienced a severe sell-off.
After eight hours of trade on Monday, equity capitalization fell from N27.35 trillion to N27.23 trillion.
The All-Share Index fell from 50,722.33 to 50,489.73 on Monday, after losing 232.6 basis points on the trading floor.
During today’s session, investors traded 207.19 million shares for N2.11 billion in 4,234 transactions.
This eclipsed the 148.81 million shares worth N1.92 billion exchanged in 4,091 transactions on Friday.
Japaul Gold led the gainers, with its share price rising 8.82 percent, from N0.34kobo to N0.37kobo per share.
Honeywell Flour increased its share price by N0.16kobo, rising from N2.79kobo to N2.95kobo.
Cornerstone’s share price increased by 5.63 percent to N0.75kobo per share, up from N0.71kobo.
Lasaco gained 5.38 percent to close at N0.98kobo per share, up from N0.93kobo previously.
United Capital gained N0.55kobo, increasing its share price from N12.25kobo to N12.80kobo.
RT Briscoe led the losers’ list, dropping 10% from N0.40kobo to N0.36kobo per share.
IMG lost N0.90kobo to end trading at N8.25kobo a share, down from N9.15kobo before.
Sky Aviation’s share price fell by N0.60kobo to conclude trading at N5.65kobo a share, down from N6.25kobo.
Ellah Lakes’ share price fell from N3.96kobo to N3.58kobo after losing N0.38kobo in trade.