Conool, guinness leaks cancel n663 billion market capitalization

The Nigerian stock market closed on Wednesday with a bearish note while investors lost N663 billion following heavy Sell-offs in Coniol, Guinness Nigeria, consolidated Hallmark Holdings, Royal Exchange and 48 other actions.

Market capitalization dropped by 0.73 percent, descending from N90,227 trillion to N89.564 trillion, while the index of all share dropped by 1,047.16 points to close at 141,566.31 compared to 142,613.47 on Tuesday.

The size of the market was negative with 52 losers against 18 gains. Coniol and Guinness, Nigeria led the loser table with a drop of 9.98 percent, closing respectively at N211.10 and N140.20 per share.

Consolidated Hallmark Holdings lost 9.94 percent at N4.35, while Royal Exchange dropped by 9.92 percent at N2.27. FG142027S1 also collapsed by 36.97 percent, ending at N75.

On the Gainers side, Austin Laz increased by 10 % to N2.64, the Birrifici samples increased by 9.97 % to N19.74, NCR Nigeria gained 9.77 % at N9.55, while Mining Multiverse appreciated 8.82 % to N11.10.

The nail polish also rose 8.64 percent to N39 per action.

The negotiation activity slowed down, with 721.82 million shares of the value of N12.94 billion exchanged in 28,745 agreements, down by 1.03 billion of shares of the value of n17.66 billion in 34,352 agreements on Tuesday.

Champion Breweries exceeded the table of activities with 54.5 million shares of the value of N988.3 million, followed by Universal Insurance with 47.8 million shares of the value of N57.3 million.

Royal Exchange recorded 46.2 million shares for a value of N105.2 million, while Regency Alliance Insurance and Aiico recorded 40.8 million shares respectively (N55.5 million) and 39.3 million shares (N156.4 million).

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