Twenty-three companies listed on the Nigerian Exchange Limited recorded year-on-year losses worth N105.78bn in their market capitalisation as the half-year period ended in June.
According to data from the NGX available to our correspondent, 23 firms led by CWG Plc failed to increase their share prices after a year of trading between June 30, 2020 and June 30, 2021.
CWG lost more than half its share price at 54.72 per cent, equivalent to N3.5bn in market capitalisation, as it closed the first half of the year at N1.15 per share.
AXA Mansard Insurance Plc was the second-highest loser as its share price reduced by 50.56 per cent, a total of N32.76bn. Mansard ended H2 2021 at N0.89 per share.
Arbico Plc, a player in the construction and real estate industry saw its share price plunge by 45.50 per cent, ending June at N1.03 per share after losing N127.71m in market value.
Among the top 10 firms that declined YoY in H2 are DAAR Communications Plc with a loss of 39.39 per cent totalling N1.56bn, Deap Capital Management & Trust Plc also dropping 39.39 per cent equal to N195m, Associated Bus Company Plc (-33.93 per cent, -N314.96m), SCOA Nig. Plc (-33.45 per cent, -N636.83m) and Omatek Ventures Plc (-28.57 per cent, -N235.34m).
Other firms listed accordingly are Nigerian Enamelware Plc, Beta Glass Plc, Unilever Nigeria Plc, Chellarams Plc, Union Bank Nigeria Plc, Union Dicon Salt Plc, Nigerian Aviation Handling Company Plc, Chams Plc, MRS Oil Nigeria Plc, and Caverton Offshore Support Grp Plc.
The least loser by percentage was Conoil Plc with a 0.48 per cent loss YoY, amounting to N69.40m in market capitalisation and closing at N20.90 per share.
It was followed by Ikeja Hotel Plc which declined by 3.85 per cent as it lost N83.15m.
The rest are NEM Insurance Plc, Ecobank Transnational Corporation Plc and CAP Plc with -4 per cent, -4.76 per cent and -7.99 per cent respectively.
According to analysts at Cordros Research, year-to-date return on the NGX as of market close on Monday is -5.76 per cent, month-to-date is 0.01 per cent, while the market peaked at 42,412.66 basis points and fell to a low of 24,130.26bps, within the past year. Copyright PUNCH. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.