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NGX: Investors lose N638bn as equities market ends bullish run




Investors in the Nigerian capital market lost N638 billion at the close of trading on Wednesday.

This followed the drop in market capitalization from N45.524 trillion to N44.885 trillion after five hours of trading today.

Similarly, the All-Share Index (ASI) fell by 1.4% or 1,167 basis points to settle at 82,024.38, down 83,191.84 posted by the bourse the previous day.

The market breadth also closed in the negative as 12 stocks advanced, 61 declined, while 45 others remained unchanged in 20,223 deals.

Cadbury Nigeria led other gainers with 9.92% growth in share price to close at N19.95 from its previous price of N18.15 per share.

Veritas Kapital Assurance, Linkage Assurance, and Transcorp Hotel completed the list of gainers with 9.79%, 8.70%, and 7.24% growth in share prices.

READ ALSO: NGX: Equity market sustains bullish run as investors gain N899.6bn in five hours

Caverton Offshore Support, Chams Holding, Consolidated Hallmark Holding, Cornerstone Insurance, FTN Cocoa Processors, and May & Baker led other price decliners as they shed 10% off their share prices to close at N2.07, N2.16, N1.35, N1.80, N1.98, and N5.49 from their previous close of N2.30, N2.40, N1.50, N2.00, N2.20, and N6.10 respectively

United Capital, Ikeja Hotel, Trancorp, and Access Bank Holding with 9.95%, 9.95%, 9.94%, and 9.93% cuts in share prices are other major losers in today’s trading.

On the volume index, Transcorp traded 117.635 million shares in 1,302 deals, valued at N1.542 billion followed by Sterling Bank Financial Holding with 116.045 million shares worth N773.4 million traded by shareholders in 856 deals.

Access Bank Holding traded 111.648 million shares valued at N3.1 billion in 1,171 deals.

On the value index, GTCO traded N3.28 billion stocks in 671 deals followed by Access Corp with N3.258 billion in 1, 202 deals.

Zenith Bank traded stocks worth N2.461 billion in 882 deals.

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