Business
NGX: Investors lose N132bn as PZ, Dangote Sugar stocks tumble
The trading losses continued for the second day running as investors lost N132 billion at the end of trading on Tuesday.
This followed the dip in the value of stocks like PZ, Dangote Sugar and The Initiates amongst others on the trading floor today.
After five hours of trading at the capital market, the equity capitalization dropped to N55.1 trillion from N55.2 trillion posted by the bourse on Monday.
Similarly, the All-Share Index (ASI) decreased to 97,473.98 from 97,708.74 at the close of the previous trading day.
The market breadth was positive as 21 stocks advanced, 19 declined, while 76 others remained unchanged in 7,951 deals.
Learn Africa, Tantalizer, and Regal Insurance led other gainers with 10%, 10%, and 9.38% growth in share price to close at N3.63, N0.55, and N0.32 from their previous N3.30, N0.50, and N0.32 per share respectively.
READ ALSO: NGX: Investors gain N318bn as All-Share Index rises by 578 points
On the flip side, PZ, Dangote Sugar, and The Initiates led other price decliners as they shed 10% each to close at N22.50, N40.50, and N2.25 from the initial N25.00, N45.00, and N2.50% per share.
On the volume index, Access Corp traded 33.234 million shares valued at N575 million in 746 deals followed by GTCO which traded 32.253 million shares worth N1.36 billion in 828 deals.
Nigerian Breweries traded 27.463 million shares valued at N631 million in 163 deals.
On the value index, GTCO recorded the highest value for the day trading stocks worth N1.36 billion in 828 deals followed by Nigerian Breweries which traded equities worth N631 million in 163 deals.
Access Corp traded stocks worth N575 million in 746 deals.
By: Babajide Okeowo
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: In Kwara, multimillion-naira milk processing plant is abandoned, converted to a chicken outlet
After the government spent millions of naira to establish a milk processing plant in Kwara State that would provided jobs...
SPECIAL REPORT: For Sokoto communities, promise of healthcare is akin to death sentence
In this story, ABDULRASHEED HAMMAD delves into the dire realities of Primary Health Care services in Sokoto State, shedding light...
ICYMI…SPECIAL REPORT: NNPCL hides behind PIA to frustrate disclosure, accountability
Nigeria’s major oil company, Nigerian National Petroleum Corporation Limited (NNPCL), in what appears to be a common practice of disregard...
INVESTIGATION: Multi-million naira Ekiti resort center remains uncompleted a decade after
The multimillion-naira project, expected to comprise recreational buildings, now consists of cassava farmland, a bush used for excretion, and a...
SPECIAL REPORT: Torturous experiences of students with disabilities in Oyo tertiary institutions
For students with disabilities in Oyo state-owned tertiary institutions, learning is a torturous and distressing experience, considering the building structures...