NSE: Investors lose N300.9bn amid Bitcoin meltdown

The losses recorded by Bitcoin investors seemed to have drowned investors’ confidence across the nation’s capital market as low participation and massive selloff led to the loss of N300.96 billion in the bourse

The value of the Bitcoin crashed earlier on Wednesday, costing holders $65.23 billion.

The Nigerian stock market is also experiencing the same meltdown as market capitalisation dropped from N20.33 trillion to N20.03 trillion on Wednesday.

The All Share Index crashed to its lowest in over two months, slipping by 1.48 percent to fall from 39,022.52 recorded on Tuesday to 38,445.09 today.

Investors traded 153.64 million shares valued at N2.44 billion in 3,494 deals on Wednesday.

This was lower than the 204.64 million shares valued at N1.83 billion that were exchanged by investors in 3,940 deals on Tuesday.

MRS led the gainers’ chart after its share price rose by N1.10kobo to move from N11 to N12.10kobo per share at the close of business.

Seplat gained N62 during trading to increase its share price from N620 to N682 per share.

Sterling Bank share price rose by N0.15kobo to end trading at N1.69kobo from N1.54kobo per share.

Japaul share price increased by 9.62 percent to end trading with N0.57kobo from N0.52kobo.

Regal Insurance gained 8.82 percent in share price to move from N0.34kobo to N0.37kobo per share at the end of trading.

Airtel Africa topped the losers’ chart after shedding N93 from its share price during trading to drop from N930 to N837 per share.

C&I Leasing share price declined from N5 to N4.50kobo per share following a loss of N0.50kobo in its share price.

BOC Gas share price plunged by N1.22kobo to end trading at N11.03 from N12.25kobo per share.

Royal Exchange share price declined from N0.83kobo to N0.75kobo per share after losing 9.64 percent in share price during trading.

NNFM completed the list as its share price fell by N0.55kobo to end trading at N5.60kobo from N6.15kobo per share.

UAC Nigeria was the most active stock as investors traded 10.01 million shares worth N103.44 million.

Zenith Bank shares were traded at a volume of 9.63 million and valued at N222.84 million.

Fidelity Bank was next with 8.74 million shares traded at a cost of N19.83 million.

Transcorp Bank reported 8.70 million shares worth N7.77 million while Transcorp recorded over 7.71 million traded shares at a value of N63.55 million.


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