FTN Cocoa, Unity Bank triggers N67bn loss in stock market  

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FTN Cocoa, Unity Bank triggers N67bn loss in stock market  
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Investors in the Nigerian stock market lost N67.17 billion as FTN Cocoa Processor, Unity Bank, MEM Insurance were among stocks that recorded higher price depreciation as selling-off continued to the close of trading Thursday.

In specific terms, FTNCocoa topped the losers’ chart with a share following a loss of 8.70 percent during trade to drop from N0.46 kobo to N0.42kobo.

NEM’s share price declined from N2.3kobo to N2.13kobo per share after losing 7.39 percent in its share price. Unity Bank’s share price plunged by 6.67 percent to end trading at N0.7kobo from N0.75kobo per share.

Regalins’ share price declined from N0.3kobo to N0.29kobo per share after losing 3.33 percent in share price during trading. Livestock completed the list as its share price fell by 2.60 percent to end trading at N1.87kobo from N1.92kobo per share.

UACN topped the gainers’ chart after gaining N0.9kobo in share price to move from N9 to N9.9kobo per share.

Royal Exchange added 10 percent during trading and increased its share price from N0.3kobo to N0.33kobo per share. Japaul Gold share price rose by 9.76 percent to end trading at N0.45kobo from N0.41kobo per share. Cutix share price rose by N9.31 percent to move from N2.04kobo to N2.30kobo per share at the close of trading.

Linkage Assurance share price rose by N9.09kobo to end trade with N0.72kobo from N0.66kobo per share.

UACN was the most active stock as investors traded 37.37 million shares worth N370.01 million on Thursday.

Transcorp shares were traded at a volume of 25.91 million and valued at N20.87 million. Fidelity Bank was next with 12.59 million shares traded at a cost of N31.45 million. Flour Mill reported 10.35 million shares worth N300.40 million while GTBank recorded over 9.65 million traded shares at a value of N289.60 million.

At the close of business on Thursday, the stock market’s All-Share Index went down by 0.33 percent to end trade at 38,916.74 below the 39,045.13 recorded on Wednesday. The market capitalisation also nosedived, slumping from N20.42 trillion to N20.36 trillion on Thursday.

At the close of trading for the week, 4.450 million shares valued at N2.31 billion were traded in 239.42 million deals on Thursday lower than 347.17 million shares valued at N2.80 billion transacted in 3,999 deals the previous day.

 

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