NGX: Equities market dips further as investors lose N62bn

For the second consecutive day, trading activities in the Nigerian Equities Market closed negative as investors lost N62.21 billion at the end of trading.

This is a the NGX-All Share Index ASI decreased to 104,553.31 from 104,663.34 recorded at the close of the previous trading day on the bourse.

Similarly, the market capitalization decreased today by N62.21 billion to N59.116 trillion from N59.178 trillion recorded at the close of the previous trading day.

The market breadth was positive as 27 stocks advanced, 23 stocks declined, while 68 stocks remained unchanged in 9,548 deals.

International Energy Insurance Plc led other gainers with 10% growth to close at N1.32, up from its previous price of N1.20.

International Breweries, Juli, and NEM Insurance Plc are amongst other gainers that also grew their share prices by 9.89%, 9.85%, and 9.59% respectively.

Read also: Adaora Umeoji appointed Zenith Bank’s first female GMD

Daar Communications Plc led other price decliners as it shed 9.86% off its share price to close at N0.64, from its previous closing price of N0.71

Computer Warehouse Group (CWG), Sovereign Trust Insurance, and Fidson Healthcare Plc are amongst other losers that also shed their share prices by 9.09%,8.51%, and 6.25% respectively.

On the volume index, First Bank of Nigeria Holding (FBNH) Plc traded 37.807 million units of its shares in 658 deals, valued at N1.573 billion followed by United Bank for Africa (UBA) Plc which traded 36.855 million units of its shares in 627 deals, valued at N954.382 million and Access Bank Holding Plc which traded 28.087 million units of its shares in 486 deals, valued at N649.273 million.

On the value index, FBNH recorded the highest value for the day trading stocks worth N1.573bn in 658 deals followed by UBA which traded equities worth N954m in 627 deals and MTNN which traded stocks worth N680m in 437 deals.

By: Babajide Okeowo

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