Eterna and CWG push Nigeria's stock market down, causing investors to lose N4.7 billion this week

Eterna and CWG push Nigeria's stock market down, causing investors to lose N4.7 billion this week

Following a 0.0 percent drop in stock capitalization on Monday, investors on the Nigerian capital market started the week with a loss of N4.7 billion.

Total investment in the stock market fell from N25.566 trillion last week to N25.561 trillion today after eight hours of trading on the floor.

The All-Share Index fell 8.81 basis points to 47,428.67, somewhat lower than the previous week's high of 47,437.48.

On Monday, investors traded 1.28 billion shares worth N7.91 billion in 4,735 transactions.

This was more than the 1.15 million shares worth N7.02 billion that were traded in 3,928 transactions last Friday.

RT Briscoe headed the gainers' list, finishing at N0.80kobo per share, up 9.59 percent from N0.73kobo per share.

Ecobank gained N0.80kobo, rising from N11 to N11.80kobo per share.

Prestige's share price increased by 6.52 percent, from N0.46kobo to N0.49kobo.

The share price of Niger Insurance increased by 4.55 percent, from N0.22kobo to N0.23kobo per share.

Mutual Benefit gained 3.85 percent, closing at N0.27kobo per share, up from N0.26kobo.

Eterna was the biggest loser, falling from N5.60kobo to N5.04 per share after losing N0.56kobo.

CWG's stock fell N0.11kobo to N0.99kobo per share, down from N1.10kobo per share.

After losing N0.12kobo during trading, Royal Exchange's stock dropped from N1.21kobo to N1.09 per share.

Veritas Kapital dropped 8.70 percent to N0.21kobo per share, down from N0.23kobo.

SCOA finished last on the list after losing N0.23kobo in market value, dropping from N2.83kobo to N2.60kobo per share.

With 1.02 billion shares valued at N3.83 billion, FCMB led the day's equities.

With 38.13 million shares valued at N108.87 million, Fidelity Bank came in second.

Zenith Bank changed hands for N768.12 million on 28.46 million shares.

GTCO traded 17.01 million shares worth N455.38 million, while Transcorp sold 20.99 million worth N23.79 million.

Overall, the Nigerian stock exchange is yet to reward investors who are pouring in loads of money annually with the hope that they will become wealthy.