NGX: Bearish trend persists as investors lose N371bn

The bearish sentiment in the Nigerian equities market continued on Tuesday investors lost N371 billion at the close of the day’s trading.

This followed the dip in the share prices of stocks like BUA CEMENT, THOMASWY, and CHAMPION amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization crashed to N55.03 trillion from N55.4 trillion recorded by the bourse on Monday.

The All-Share Index (ASI) also decreased to 96,928.52 from 97,582.41 recorded the previous day.

READ ALSO: Investors lose N113bn amid suspension of stocks by NGX

The market breadth was positive as 29 stocks advanced and 25 declined, while 61 others remained unchanged in 9, 381 deals.

NASCON, ACADEMY and OANDO led other gainers with 10%, 10% and 9.89% growth each in share prices to close at N32.45, N2.20, and N30.55 from the previous N29.50.00, N2.00, and N27.80 per share.

On the flip side, BUA CEMENT, THOMASWY, and CHAMPION led other price decliners as they shed 9.99%, 8.52%, and 7.97% each to close at N128.90, N1.61, and N2.77 from the initial N143.20, N1.76, and N3.01 per share.

On the volume index, UBA led trading with 62 million shares valued at N1.3 billion in 629 deals followed by OANDO which traded 36 million shares valued at N1.1 billion in 730 deals.

VERITASKAP traded 33 million shares valued at N288 million in 191 deals.

On the value index, UBA also recorded the highest value for the day trading stocks worth N1.3 billion in 629 deals followed by OANDO which traded equities worth N1.1 billion in 730 deals.

ZENITH BANK traded shares valued at N790 million in 510 deals.

By: Babajide Okeowo

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