NGX: Investors drop N1.07tr as equities market suffers second consecutive losses

Investors in the Nigerian equities market lost N1.07 trillion at the close of trading on Wednesday.

This followed the dip in the market capitalization to N55.3 trillion from N56.4 trillion posted by the bourse the previous day.

Similarly, the All-Share Index (ASI) decreased to 101,154.46 from 103,106.85 recorded on Tuesday.

The market breadth was negative as 10 stocks advanced, 56 declined, while 50 others remained unchanged in 14,092 deals.

PZ Cussons and Triple Gee and Company led other gainers with 9.97% growth each to close at N33.10 and N3.42 from the previous N30.10 and N3.11 per share.

Geregu Power, McNichols, and Veritas Kapital Assurance also posted 9.69%, 9.66%, and 9.09% growth in their share prices.

READ ALSO: BUA cement, Dangote cement, May & Baker, NEM top list of stocks to watch this week

On the flip side, Zenith Bank, Lafarge Africa, Royal Exchange, Transcorp, May and Baker, UPDC, and Sterling Bank Financial Holding led other price decliners as they shed 10% each off their share price to close at N35.10, N36.00, N0.72, N12.96, N6.21, N1.80 and N5.67 from the previous N39.00, N40.00, N0.80, N14.40, N6.90, N2.00 and N6.30 per shares.

Conoil, NASCON Allied Industries, United Bank for Africa (UBA), and FBN Holding completed the list of decliners with 9.98%, 9.97%, 9.96%, and 9.96% cuts in their share prices.

On the volume index, Transcorp traded 79.679 million shares valued at N1.06 billion in 961 deals followed by UBA with 61.336 million shares worth N1.55 billion traded by shareholders in 867 deals.

Zenith Bank traded 1.176 million shares valued at N2.2 billion in 964 deals.

On the value index, Geregu traded stocks worth N6.975 billion in 232 deals followed by MTN Nigeria with stocks worth N3.314 billion in 579 deals.

Zenith Bank traded stocks worth N2.2 billion in 964 deals.

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