Champions, Lasaco top losers as investors shed N70bn in five hours

Investors in the Nigerian equities market lost N70 billion at the close of trading on Wednesday.

This followed a dip in the share prices of stocks like RT Briscoe, Eunisell Interlinked Plc and Livestock Feeds Plc amongst others on the trading floor.

The benchmark All-Share Index (ASI) crashed to 109,619.10 points from the 109,730.47 points recorded the previous day.

After five hours of trading at the capital market, the equity capitalisation slumped to N68.8 trillion from N68.9 trillion posted by the bourse on Tuesday.

The market breadth was positive as 29 stocks advanced, 29 stocks declined, and 63 stocks remained unchanged in 19,439 deals.

RT Briscoe, Eunisell Interlinked Plc and Livestock Feeds Plc led other gainers with 10%, 9.75% and 9.61% growth each in prices to close at N2.09, N12.95 and N8.90 from the previous N1.90, N11.80 and N8.12 per share.

READ ALSO: NGX: Investors make N353m as Oando, Chellarms, Transcorp push up stock market

Champion Plc, Lasaco Assurance, and McNichols Plc led other price decliners with 10%, 10% and 9.45% dip in share prices to close at N7.20, N2.52 and N2.30 from the previous N8.00, N2.80 and N2.54 per share.

On the volume index, Japaul Gold and Ventures Plc led trading with 90 million shares in 178 deals, followed by Tantalizers Plc, which traded 82 million shares in 586 deals.

Fidelity Bank Plc traded 67 million shares in 1,195 deals.

On the value index, Nigerian Breweries Plc traded stocks valued at N3.1 billion in 431 deals, followed by Fidelity Bank Plc, which traded equities worth N1.2 billion in 1,195 deals.

Zenith Bank Plc traded shares valued at N972 million in 918 deals.

By: Babajide Okeowo

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