NGX: Caverton among top losers as investors drop N190bn

Investors in Nigeria’s equities market lost N190 billion at the close of trading on Wednesday.

This followed the dip in the market capitalization to N58.9 trillion from N59.0 trillion posted by the bourse on Tuesday.

Similarly, the All-Share (ASI) decreased to 104,181.32 from 104,518.14 recorded the previous day.

The market breadth was negative as 20 stocks advanced, 32 declined, while 66 others remained unchanged in 10,364 deals.

University Press led other gainers with 9.84% growth in share price to close at N2.68 from its previous price of N2.44 per share.

READ ALSO: NGX: Stock market rebounds from trading losses as investors make N345bn

Scoa Nigeria, Morison Industries, and Cutix also increased their share prices by 9.69%, 9.66%, and 9.62% respectively.

On the flip side, Caverton Offshore Support Group and International Energy Insurance led other price decliners as they shed 10% each off their share price to close at N1.62 and N1.44 from their previous N1.80 and N1.60 per share.

Thomas Wyatt, Nem Insurance, and Tantalizer completed the list of losers in today’s trading with a 9.63%, 9.60%, and 9.52% cut in their share prices.

On the volume index, Access Holding traded 50.000 million shares valued at N1.24 billion in 939 deals followed by United Bank for Africa (UBA) with 49.006 million shares worth N1.37 billion traded by shareholders in 417 deals.

Transcorp traded 45.947 million shares valued at N612 million in 936 deals.

On the value index, banking stocks held sway with Zenith Bank trading stocks worth N1.86 billion in 561 deals followed by GTCO which traded equities worth N1.56 billion in 501 deals.

UBA traded stocks worth N1.37 billion in 417 deals.

By: Babajide Okeowo

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