NGX: Cadbury, Academy among top losers as investors shed N448bn

The Nigerian equities market sustained the bearish sentiment on Tuesday as investors lost N448 billion at the close of the day’s trading.

This followed a dip in the share prices of stocks like CADBURY, ACADEMY, and ROYALEX amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization crashed to N59.4 trillion from N59.8 trillion recorded by the bourse on Monday.

The benchmark All-Share Index (ASI) dropped to 98,058.07 from 98,708.90 recorded the previous day.

The market breadth was negative as 25 stocks advanced and 31 stocks declined, while 62 stocks remained unchanged in 9,547 deals.

READ ALSO: NGX: Daar Communication, Livestock drag down equities market as investors lose N5bn

NNFM, EUNISELL, and LIVESTOCK led other gainers with 10%, 9.87% and 7.73% growth each in share prices to close at N37.40, N4.23, and N4.04 from the previous N34.00, N3.85 and N4.04 per share.

CADBURY, ACADEMY, and ROYALEX led other price decliners with 9.89%, 9.87%, and 9.72% decline each in share prices to close at N16.40, N2.83, and N0.65 from the previous N18.20, N3.14 and N0.72 per share.

On the volume index, UBA led trading with 90 million shares in 848 deals followed by CHAMS which traded 80 million shares in 58 deals.

TRANSCORP traded 31 million shares in 1,007 deals.

On the value index, UBA topped as the securities traded stock worth N2.6;billion in 848 deals followed by TRANSCORP which traded equities worth N1.5 billion in 1, 007 deals.

ARADEL traded shares valued at N1.2 billion in 568 deals.

By: Babajide Okeowo

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