NGX: Investors lose N849bn amid poor performances by BUA Cement, UPDC, others

Poor showing by BUA Cement, STERLINGNG, UPDC and other entities pulled the Nigerian stock market down by N849 billion on Tuesday.

This followed the crash in the market capitalization to N55.8 trillion from N56.7 trillion posted by the bourse the previous day.

Similarly, the All-Share Index (ASI) decreased to 102,108.05 from 103,659.81 recorded on Monday.

The market breadth was also negative as 14 stocks advanced, 45 declined, while 61 others remained unchanged in 11,761 deals.

Cadbury Nigeria and Juli Plc led other gainers with 10% growth each to close at N24.20 and N0.77 from their previous prices of N22.00 and N0.70 per share.

Meyer, Daar Communications, and CAP also posted 9.94%, 9.09, and 4.58% growth in their share prices.

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

On the flip side, BUA Cement and Consolidated Hallmark Holding led other price decliners as they shed 10% each off their share prices to close at N165.50 and N1.53 from their previous N185.00 and N1.70 per share.

Sterling Bank Holding, UPDC, and The Initiate completed the list of decliners with 9.85%, 9.79%, and 9.79% dip in their share prices respectively.

On the volume index, Jaiz Bank traded 90.785 million shares valued at N226.9 million in 433 deals followed by Universal Insurance with 40.398 million shares worth N16.6 million in 186 deals.

Japaul Gold and Ventures traded 33.614 million shares valued at N99.2 million in 298 deals.

On the value index, GTCO traded equities worth N1.31 billion in 418 deals followed by FBNH with N702 million in 385 deals.

MTNN traded equities worth N665 million in 414 deals.

By: Babajide Okeowo

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