Business
NGX: CWG, Academy among top losers as investors lose N50bn
Investors in the Nigerian capital market lost N50 billion at the close of trading on Wednesday.
This followed a dip in the share prices of stocks like CWG, NNFM, and ACADEMY amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization decreased to N55.5 trillion from N55.6 trillion recorded by the bourse the previous day.
The benchmark All-Share Index (ASI) decreased to 96,715.04 from 96,802.80.
The market breadth was positive as 30 stocks advanced and 25 stocks declined, while 59 stocks remained unchanged in 9, 546 deals.
READ ALSO: MTNN, Zenith, FBNH, Oando others top list of stocks to watch this week
CAVERTON, REDSTAREX, and UPDC led other gainers with 9.95% 9.69%, and 9.63% growth each in share prices to close at N2.10, N3.85, and N1.48 from the previous N1.91, N3.51, and N1.35 per share.
On the flip side, CWG, NNFM, and ACADEMY led other price decliners as they shed 10%, 9.94%, and 9.93% each to close at N5.40, N43.50 and N2.63 from the initial N6.00, N48.30, and N2.92 per share.
On the volume index, Jaiz Bank led trading with 237 million shares valued at N545 million in 73 deals followed by UBA which traded 39 million shares valued at N956 million in 487 deals.
ACCESS CORP traded 28 million shares valued at N520 million in 457 deals.
On the value index, OANDO recorded the highest value for the day trading stocks worth N2.4 billion in 1, 409 deals followed by UBA which traded equities worth N956 million in 487 deals.
ZENITH BANK traded shares valued at N700 million in 511 deals.
By: Babajide Okeowo
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