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NGX: GTCO, Dangote Sugar, Flour Mill stocks tumble as investors shed N412bn in five hours



Investors in the Nigerian equities market lost N412 billion at the close of trading on Friday.

The stock market resumed from the Eid-El-Fitr holiday on Friday.

This followed the dip in the share value of some entities like GTCO, Dangote Sugar, Flour Mill and Multiverse on the trading floor today.

After five hours of trading at the capital market, the capitalization crashed to N57.8 trillion from N58.4 trillion recorded at the close of trading on Monday.

Similarly, the All-Share Index (ASI) decreased to 102,314.56 from 103,437.67 achieved by the bourse three days ago.

The market breadth was negative as 12 stocks advanced, 36 declined, while 75 others remained unchanged in 12,491 deals.

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

Transcorp led other gainers with 9.93% growth in share price to close at N14.95 from its previous price of N13.60 per share.

Morison Industries, Oando, and Caverton Offshore also raised their share prices by 9.87%, 9.61%, and 58.54% respectively.

On the flip side, Dangote Sugar Refinery and Guaranty Trust Holding Company (GTCO) led other price decliners as they shed 10% each off their share prices to close at N53.10 and N41.40 from their previous N59.00 and N46.00 per shares.

Flour Mills Nigeria, Multiverse Mining and Exploration, and FTN Cocoa Processors with 9.87%, 9.84%, and 8.82% cut in their share prices completed the list of decliners in today’s trading.

On the volume index, United Bank for Africa (UBA) traded 148.882 million shares valued at N4.010 billion in 1,482 deals followed by Zenith Bank which traded 135.810 million shares worth N5.48 billion in 1,152deals and Guaranty Trust Holding Company (GTCO) which traded 98.755 million shares valued at N4.13 billion in 779 deals.

On the value index, Zenith Bank recorded the highest value for the day trading equities worth N5.48 billion in 1, 152 deals followed by GTCO which traded stocks worth N4.13 billion in 779 deals.

UBA traded equities worth N4.0 billion in 1, 482 deals.

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