NGX: Equities market slumps as investors lose N274bn in five hours

The Nigerian equities market continued its slump as investors lost N274 billion at the close of trading on Thursday.

This followed the dip in the share prices of stocks like May & Baker Nigeria, Chellarams Plc and Linkage Assurance amongst others on the trading floor.

The benchmark All-Share Index (ASI was down to109,183.02 points from 109,619 0 points recorded the previous day.

After five hours of trading at the capital market, the equity capitalisation slumped to N68.6 trillion from N68.8 trillion posted by the bourse on Wednesday.

The market breadth was positive as 34 stocks advanced, 22 stocks declined, and 63 stocks remained unchanged in 26,176 deals.

Union Homes Real Estate Investment, Red Star Express Plc and RT Briscoe led other gainers with 9.97%, 9.91% and 9.57% growth each in prices to close at N50.75, N6.10 and N2.29 from the previous N46.15, N5.55 and N2.09 per share.

READ ALSO: NGX: Equities market sustains bullish trend as investors gain N143bn

May & Baker Nigeria, Chellarams Plc, and Linkage Assurance led other price decliners with 9.96%, 9.96% and 9.88% dip in share prices to close at N11.75, N11.75 and N1.46 from the previous N13.05, N13.05 and N1.62 per share.

On the volume index, Fidelity Bank Plc led trading with 137 million shares in 2,169 deals, followed by Japaul Gold and Ventures Plc which traded 81 million shares in 168 deals.

United Bank of Africa (UBA) traded 60 million shares in 1,350 deals.

On the value index, Fidelity Bank Plc traded stocks valued at N2.4 billion in 2, 169 deals, followed by MTN Nigeria (MTNN) which traded equities worth N2.3 billion in 970 deals.

United Bank of Africa (UBA) traded shares valued at N2 billion in 1, 350 deals.

By: Babajide Okeowo

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