Business
NGX: Bearish trend persists as investors lose N278bn
The bearish trend in the Nigerian equities market continued on Tuesday as investors lost N278 billion at the close of trading.
This follows the dip in the share prices of stocks like Oando, Livestock Feeds and Cornerstone amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization crashed to N55.2 trillion from N55.5 trillion recorded by the bourse on Monday.
The All-Share Index (ASI) also decreased to 97,390.01 from 97,881.75 recorded the previous day.
The market breadth was negative as 24 stocks advanced and 29 declined, while 64 others remained unchanged in 11,237 deals.
READ ALSO: NGX: Investors begin week with N51b loss as stocks tumble
NEIMETH, CHAMPION and UPL led other gainers with 9.90% 9.75%, 9.63% each in share prices to close at N2.11, N3.04, and N2.39 from the previous N1.92, N2.77, and N2.18 per share.
On the flip side, OANDO, LIVESTOCK FEEDS and CORNERSTONE led other price decliners as they shed 9.97%, 8.10% and 7.66% each to close at N40.20, N2.27 and N2.17 from the initial N44.65, N2.47, and N2.35 per share.
On the volume index, GTCO led trading with 71 million shares valued at N3.2 billion in 445 deals followed by JAPAUL GOLD which traded 69 million shares valued at N156 million in 189 deals.
ACCESS CORP traded 66 million shares valued at N1.28 billion in 651 deals.
On the value index, GTCO recorded the highest value for the day trading stocks worth N3.2 billion in 445 deals followed by NESTLE which traded equities worth N2.4 billion in 73 deals.
OANDO traded shares valued at N1.8 billion in 1,640 deals.
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