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NGX: Investors lose N67bn as Nigeria’s equities market tumbles again



For the third time this week, trading activities in the Nigerian equities market closed in the red as investors lost N67 billion after hours of trading on Thursday.

This followed the crash in the market capitalization to N55.3 trillion from N55.4 trillion posted by the bourse on Wednesday.

Similarly, the All-Share Index (ASI) decreased to 101,239.10 from 101,362.38 recorded the previous day.

The market breadth also closed negative as 20 stocks advanced, 28 declined, while 71 others remained unchanged in 7,248 deals.

Sunu Assurances Nigeria and Omatek Ventures led other gainers with a 10% growth in share price to close at N2.09 and N0.77 from the previous N1.90 and N0.77 per share.

Juli, Caverton Offshore, and NEM Insurance also recorded 9.79%, 9.52%, and 9.09% increase in their share prices.

On the flip side, Daar Communications led other price decliners as it shed 10% off its share price to close at N0.72 from the previous N0.80 per share.

READ ALSO: Nigeria’s equities market rebounds as investors gain N165bn

PZ Cussons, Academy Press, and Morison Industries with 9.89%, 9.84%, and 9.73 dip in share prices completed the list of losers in today’s trading.

On the volume index, First Bank of Nigeria Holding (FBNH) traded 31.022 million shares valued at N893.03 million in 372 deals followed by United Bank for Africa (UBA) with 22.281 million shares worth N533.2 million traded by shareholders in 392 deals.

Access Bank Holding traded 13.689 million shares valued at N295.3 million in 461 deals.

Similarly, FBNH traded stocks worth N893 million in 372 deals followed by UBA with stocks worth N533 million in 393 deals.

Airtel Africa traded stocks worth N481 million in 17 deals to complete the top three in the value of traded stocks category.

By: Babajide Okeowo

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