Holiday: Trading Resumes with Bearish Trend as Investors Lose N47bn

Investors lost about N47bn on Wednesday when the Nigerian Exchange resumed from the two days Eid al-Fitr holiday.

The All-Share Index and market capitalisation declined by 0.08 per cent to settle at 99,840.95 points and N56.48tn, respectively.

The day’s trading saw a prevalence of bearish activity with the exchange witnessing more decliners (41) than gainers (15).

Among the advancing stocks were University Press, Guinness Nigeria and Champion Breweries which appreciated by 10 per cent, 9.96 per cent and 9.83 per cent to close appreciation of N1.44, 10 per cent to close at N2.75, N66.25 and N3.24, respectively

Leading the decliner chart were Caverton Offshore Support Group, which lost 9.62 to close at N1.41, Associated Bus Company lost 9.52 per cent to N0.57 and Prestige Assurance Company dipped by 8.37 per cent to close N29.00.

The number of deals increased by 35.57 per cent to 9,899, while the trading volume rose by 334.91 per cent to 138,347,7941 million traded shares.

The trading value on the exchange also surged by 223.02 per cent to close at N16.48bn.

Leading in terms of volume, Fidelity Bank traded 1.05 million shares in 466 deals, followed by Nigerian Breweries, which exchanged 60.67 million shares in 293 deals.

At the end of last week, the market capitalisation and the All-Share Index appreciated by 0.09 per cent to close at N56.53tn and 99,925.29 points, respectively.