Investors Lose On The Nigerian Exchange For Third Day This Week

The market capitalization of the Nigerian Exchange (NGX) has dropped for the third consecutive day by N299 billion to end Wednesday's trading day at N20.04 trillion.

At the end of Wednesday's session, a total of 13.643 million shares were exchanged in 3,494 deals - all of which were equivalent to N2.45 billion. This shows that when compared to Tuesday's trading session, today recorded a 25% decrease in volume of shares traded, as well as an 11% decrease in the number of deals; although there was a 33% increase in turnover of deals.

In aggregate, 105 equities took part in the trading session, and it ended with 23 equities gaining and 26 equities losing.

For gainers', Seplat Petroleum Development took the highest increase in share price, as its shares went up by 10%, to position N682. It was followed by another oil company, MRS Oil Nigeria, which also went up by 10%. Sterling Bank and Japaul Gold also some positive actions as their shares went up by 9.74% and 9.62% respectively.

Not all equities were lucky, however, with Airtel Africa being a prime example as the price of its shares went down 10% to N837, to ensure the stock came last on the bourse. Other equities on the losing side include- C&I Leasing, which also lost 10%; BOC Gases Nigeria, which lost 9.96%; and Royal Exchange, which lost 9.64% of its share price.

Meanwhile, shares of UAC of Nigeria saw its shares being transacted the most on the bourse, as 10 million shares of the company exchanged hands. It was followed by banks - Zenith and Fidelity, with 9.64 million and 8.75 million, respectively. Transnational Corporation of Nigeria, owners of Transcorp Hotels, saw 8.71 million of its shares change hands as well. 

The most important performance index on the Nigerian Exchange, the All-Share Index, lost 577 points(that's about 1.48% of its total value) to end the day at 38,445 after starting at 39,022.

The NSE Premium Index went up by 0.08% 24hours. Likewise, the NSE Top 30 Index gained 0.39% in the past day.