NSE: Share Value Crashes By 51%


Even though the perfor

mance of traded equities at the Nigerian Stock Exchange (NSE) Wednesday, showed a little improvement, the value of traded shares crashed by 51 per cent or N1.39 billion.

All other market indicators, All-Share Index (ASI), market capitalisation and volume of traded equities showed a minimal appreciation to end midweek trading on a positive note.

Specifically, ASI closed slightly higher at 23,707.47 points gaining 0.66 per cent or 154.63 points from 23,552.84 points traded Tuesday.

Also, market capitalisation gained N49.44 billion to close higher at N7.58 trillion from N7.53 trillion traded by investors on Tuesday.

A total of 214,636,871 shares, worth N1.315 billion were exchanged in 4,436 deals as against 213,984,436 shares valued at N2.70 billion traded by investors in 4,365 deals.

The volume of traded shares appreciated by 0.3 per cent or 652,435 shares to close higher at 214,636,871 shares from 213,984,436 shares traded at the floor of NSE on Tuesday.

However, the value of traded equities crashed by 51 per cent or N1.39 billion to close lower at N1.315 billion from N2.704 billion traded on Tuesday.

Only 15 companies made gains in their transactions as against 31 companies that lost even though the share prices of 67 companies remained unchanged out of a total number of 113 companies that traded at the exchange.

Meanwhile, Unity Kap Plc drove the market by volume after trading 56,714,736 shares, worth N28.36 million, which exchanged hands in 24 deals.