NGX: Investors lose N436b as All-Share Index drops by 761 basis points

The Nigerian equities market began trading this week with a N436 billion loss by investors on Monday.

This followed the crash in the market capitalization to N56.7 trillion from N57.1 trillion posted by the bourse on Friday.

Similarly, the All-Share Index (ASI) decreased by 761.4 basis points to 103,659.81 from 104,421.23 recorded four days ago.

The market breadth was also negative as 26 stocks advanced and 28 declined, while 66 others remained unchanged in 13,674 deals.

Cadbury Nigeria, Cornerstone Insurance, Daar Communications, May & Baker, and Meyer led other gainers with 10% growth in share price each to close at N22.00, N2.09, N0.77, N6.93, and N4.73 from their previous price of N20.00, N1.90, N0.70, N6.30, and N4.30 per share.

Sovereign Trust Insurance, Ellah Lakes, and Royal Exchange also posted 9.80%, 9.9.71, and 9.33% growth in their share prices respectively.

READ ALSO: NASCON, AXA others drag down equities market as investors lose N856bn

Abbey Mortgage Bank led other price decliners as it shed 9.70% off its share price to close at N2.70 from its previous N2.99 per share.

Jaiz Bank, Guinea Insurance, and Fidelity Bank completed the list of decliners with 7.93%, 6.89%, and 6.66% dip in share prices respectively.

On the volume index, First Bank of Nigeria Holding (FBHN) traded 331.530 million shares valued at N8.9 billion in 754 deals followed by Transcorp with 49.403 million shares worth N803.7 million in 869 deals.

Oando traded 43.206 million shares valued at N632.8 million in 777 deals.

On the value index, FBNH traded stocks worth N8.954 billion in 767 deals followed by NB with N1.133 billion in 163 deals.

Geregu traded stocks worth N979 million in 312 deals to complete the top three in this category.

By: Bababajide Okeowo

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