Business
NGX: Investors begin trading week with N296bn loss
By: Babajide Okeowo
Another trading week began on Monday May 13, 2024 with investors incurring a loss of N296bn.
This follows a dip in the value of stocks like Seplat, PZ, ETranzact, Unity Bank, amongst others.
Similarly, the NGX-All-Share Index ASI decreased to 97,708.74 from 98,233.76 at the close of the previous trading day.
After five hours of trading at the capital market, the equity capitalization decreased N55.265 trillion from N55.562 trillion posted by the bourse on Friday last week.
The market breadth was negative as 18 stocks advanced, 24 stocks declined, while 78 stocks remained unchanged in 8,607 deals.
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Tantalizer, Sterling Ng, Ikeja Hotel led other gainers with 8.70%, 5.38% and 5.37% growth each to close at N0.50, N4.70, and N7.45 from their previous prices of N0.46, N4.46, and N7.07 respectively.
On the flip side, Seplat, PZ, and E-Tranzact led other price decliners as it shed 10%, 9.91% and 9.68% to close at N2,962.30, N25.00 and N5.60 from the initial prices of N3,291.40, N27.75 and N6.20% respectively.
On the volume index, NOTORE traded 74.425 million units of its shares in 1 deal, valued at N4.651bn followed by Access Corp which traded 43.053 million units of its shares in 832 deals, valued at N749m and Universal Insurance which traded 38.332 million units of its shares in 44 deals, valued at N139m.
On the value index, NOTORE recorded the highest value for the day trading stocks worth N4.651bn in 1 deal followed by GTCO which traded equities worth N1.099bn in 510 deals and Zenith Bank which traded stocks worth N1.050bn in 600 deals.
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