NGX: Bearish streak continues as investors lose N2.5bn

Investors in the Nigerian equities market lost N2.5 billion at the close of trading on Wednesday.

This followed the dip in the share value of PZ, International Breweries, Sterling, and Linkage Assurance, among others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization crashed to N55.552 trillion from N55.554 trillion posted by the bourse on Tuesday.

Similarly, the All-Share Index (ASI) dropped to 98,223.97 from 98,228.50 recorded the previous day.

The market breadth was negative as 13 stocks advanced, 18 declined, while 85 others remained unchanged in 8, 121 deals.

Okomu Oil, Tantalizer, and Cutix led other gainers with 9.98%, 8.33%, and 5.26% growth in share price to close at N255.70, N0.39, and N3.00 from the previous N232.50, N0.39, and N3.00 per share respectively.

PZ, International Breweries, and Sterling led other price decliners as they shed 10%, 9.59% and 9.41 to close at N34.20, N3.92, and N4.43 from the initial N38, N4.35, and N4.90 per share.

On the volume index, United Bank for Africa (UBA) traded 79.978 million shares valued at N2.074 billion in 689 deals followed by Transcorp which traded 338.586 million shares worth N472.3 million in 742 deals.

Access Corp traded 34.065 million shares valued at N594 million in 712 deals.

On the value index, MTN Nigeria recorded the highest value for the day trading stocks worth N2.55 billion in 428 deals followed by UBA which traded equities worth N2.074 billion in 689 deals.

GTCO traded stocks worth N968 million in 396 deals.

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