NGX: Investors lose N154bn as equity market begins week on losing note

Investors in the Nigerian equities market lost N154bn as the new trading week got off on a losing note.

This follows the loss in the market value of stocks like Dangote Sugar, Secure Electronic Technology, Cap Plc, and Berger at the end of trading today.

Similarly, the NGX-All-Share Index ASI decreased to 97,879.94 from 98,152.91 recorded at the close of the previous trading day.

After five hours of trading at the capital market, the equity capitalization decreased by N154.25 billion to N55,357.37 trillion from N55,511.62 trillion posted by the bourse on Friday, last week.

The market breadth was positive as 24 stocks advanced, 19 stocks declined, while 78 stocks remained unchanged in 8,714 deals.

Read also: Dangote cement export of clinker, cement increases by 87.2%

Sterling Financial Holding Plc led other gainers with 9.95% growth to close at N4.20 from its previous price of N3.82. First Bank of Nigeria Holdings (FBNH), Honeywell Flour Mills, and Tantalizers Plc are amongst other gainers that also grew their share prices by 9.85%, 9.40%, and 9.09% respectively.

Dangote Sugar Refinery and Secure Electronic Technology Plc led other price decliners as they shed 10% each off their share prices to close at N43.20 and N0.54 from their previous close of N48.00 and N0.60 respectively. CAP Plc, Berger Paints, and Presco Plc are amongst other losers that also shed their share prices by 9.88%, 9.87%, and 9.72% respectively.

On the volume index, United Bank for Africa (UBA) Plc traded 34.563 million units of its shares in 646 deals, valued at N799.449 million, The Initiate Plc traded 25.581 million units of its shares in 38 deals, valued at N46.158 million, Access Holdings Plc traded 19.396 million units of its shares in 364 deals, valued at N269.103 million.

On the value index, UBA recorded the highest value for the day trading stocks worth N799m in 646 deals, Zenith Bank which traded equities worth N589m in 774 deals and Nestle which traded stocks worth N512m in 104 deals.

By: Babajide Okeowo

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