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NGX: Equities market poor run continues as investors lose N303bn



The poor run of the Nigerian equities market continued on Monday April 15, 2024 as investors lost N303bn at the close of trading.

This followed the dip in the share value of some entities, including Fidelity Bank, Jaiz Bank, RT Briscoe and GTCO on the trading floor today.

After five hours of trading at the capital market, the capitalization crashed to N57,561.44 trillion from N57,864.64 trillion recorded at the close of trading on Friday.

Similarly, the All-Share Index (ASI) decreased to 101,778.47 from 102,314.56 achieved by the bourse on Friday.

The market breadth was negative as 10 stocks advanced, 32 declined, while 78 others remained unchanged in 10,601 deals.

READ ALSO:NGX: Abbey Mortgage, Champion stocks tumble as investors shed N220bn in five hours

UPDC Plc led other gainers with 10% growth to close at N1.43 from its previous price of N1.30. Morison Industries, NEM Insurance, and Daar Communications Plc are amongst other gainers that also grew their share prices by 9.97%, 8.90%, and 7.69% respectively.

On the flip side, Fidelity Bank Plc led other price decliners as it shed 10% off its share price to close at N9.00, from its previous close of N10.00. Jaiz Bank, R.T. Briscoe, and Guaranty Trust Holding Company (GTCO) Plc are also amongst other losers that also shed their share prices by 9.69%, 8.47%, and 7.73% respectively.

On the volume index, United Bank for Africa (UBA) Plc traded 42.254 million units of its shares in 708 deals, valued at N1.109 billion followed by Transcorp Plc which traded 27.562 million units of its shares in 621 deals, valued at N396.168 million and Access Holdings Plc which traded 24.620 million units of its shares in 873 deals, valued at N465.806m.

On the value index, MTNN recorded the highest value for the day trading stocks worth N1.170bn in 452 deals followed by UBA which traded equities worth N1.108bn in 708 deals and Dangote Cement which traded stocks worth N572m in 106 deals.

By: Babajide Okeowo

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