NGX: Equities market begins week on bearish trend as investors lose N92bn

The Nigerian equities market began the week with bearish sentiment as investors lost N92bn at the end of trading session.

This follows a dip in the share prices of stocks like CHAMS, UPL and OMATEK amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization decreased to N55.405 trillion from N55.497 trillion recorded by the bourse on Friday, August 2, 2024.

The All-Share Index (ASI) also decreased to 97,582.41 from 97,745.73 recorded the previous trading day.

The market breadth was negative as 23 stocks advanced and 24 stocks declined, while 70 stocks remained unchanged in 9,738 deals.

PRESCO, INTERBREW and SOVRENINS led other gainers with 10% growth each in share prices to close at N485.10, N4.62, and N0.61 from the previous prices of N441.00, N4.20, and N0.55 per share.

READ ALSO: NGX: Equities market close week on bullish trend as investors gain N219bn

On the flip side, CHAMS, UPL and OMATEK led other price decliners as they shed 10%, 9.92% and 8.20% each to close at N1.98, N2.18 and N0.56 from the initial prices of N2.20, N2.42, and N0.61 per share.

On the volume index, ZENITHBANK led trading with 36m shares valued at N1.331bn in 602 deals followed by UBA which traded 34m shares in 584 deals valued at N708mm.

VERITASKAP traded 25m shares valued at N233mn in 185 deals.

On the value index ZENITHBANK also recorded the highest value for the day trading stocks worth N1.331bn in 602 deals followed by MTNN which traded equities worth N1.136bn in 728 deals.

UBA traded shares valued at N708mn in 584 deals.

By: Babajide Okeowo

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