Zenith Bank, MTN, others on losers’ list as investors dump shares

The bearish run in the Nigerian capital market continued on Friday as the trading floor on the Nigerian Stock Exchange (NSE) was flooded with profit-taking investors.

The development sent the market’s capitalisation down to N21.81 trillion, below the N22.1 trillion it opened the month with.

Deals also dipped at the end of the trading week over less appetite among investors.

The first day of trading this week had closed with 42,257.90 All-Share Index.

However, the capital market closed on Friday with 41,709.90 ASI after declining by 548 basis points.

Ripples Nigeria had reported that volume of shares traded among investors at the start of the week was 543.75 million.

But the volume declined even more at the close of market on Friday with 481.18 million shares.

Meanwhile, GTBank rose to the top of the gainers’ chart after recording a N3 gain during trading.

RELATED: Stock market remains bearish as investors engage in profit-taking, cut losses

This increased its share price to N36 per share from N33 recorded on Friday.

NNFM came second on the gainers’ list gaining N0.77kobo to drag its price upward from N7.88kobo to N8.65kobo per share.

Livestock followed after closing the market with N2.39kobo, rising from the opening price of N2.3kobo per share, an increase of 3.91 percent.

FTN was fourth on the list with N0.52kobo rising by 8.33 percent from the opening trade of N0.48kobo.

Jaiz Bank completed the top five with N0.72kobo per share, rising by 5.88 percent from N0.68kobo it opened the trading with.

Total topped the losers’ table after shielding N1 from the N143 it opened with to close the market with N142 per share.

MTN Nigeria also made the list after its share price dropped to N180 from N181 per share. WAPCO (Lafarge) lost N1 to secure the third spot after it ended trading with N20. It opened the trading with N21 on Thursday.

Dangote Sugar’s share price declined to N20 per share from N21 after shielding N1. Zenith Bank also joined the losers’ table as its share price fell by N0.75kobo to end trade with N26. It opened the trade with N26.75kobo per share.

Union Bank of Nigeria ranked first on trades as investors traded 78.22 million shares worth N453.71 million.

Zenith Bank traded 61.7 million shares valued at N1.37 billion.

Transcorp was next with 44.3 million shares traded at a cost of N31.27 million.

UBA reported 40 million shares worth N229.51 million, while Courtville traded 25.81 million shares valued at N5.16 million.

.Zenith Bank, MTN, others on losers’ list as investors dump shares. . | ..

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