NGX: Investors lose N84b as stocks tumble - Ripples Nigeria
Connect with us

Business

NGX: Investors lose N84b as stocks tumble

Published

on

Investors in the Nigerian equities market lost N84 billion at the end of trading on Thursday.

This followed the dip in the share price of May & Baker, Fidelity Bank, and Sovereign Trust Insurance, amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization crashed to N56.07 trillion from N56.1 trillion posted by the bourse on Wednesday.

Similarly, the All-Share Index (ASI) decreased to 99,134.85 from 99,284.38 recorded the previous day.

The market breadth was negative as 17 stocks advanced, 18 declined, while 80 others remained unchanged in 6,765 deals.

OANDO, ETERNA, and VERITASKAP led other gainers with 9.77%, 9.67%, and 9.52% growth in share price to close at N14.05, N14.75, and N0.69 from the previous N12.80, N13.45, and N0.63 per share.

READ ALSO: NGX: Stock market rebounds from trading losses as investors make N345bn

On the flip side, May & Baker, Fidelity Bank, and Sovereign Trust Insurance led other price decliners as they shed 10%, 9.72%, and 9.52% each to close at N6.03, N9.75, and N0.38 from the initial N6.70, N10.80, and N0.42 per share.

On the volume index, FIDELITY BANK traded 49.195 million shares valued at N483 million in 337 deals followed by ACCESS CORP which traded 42.384 million worth N728 million shares in 506 deals.

OANDO traded 28.617 million shares valued at N394 million in 642 deals.

On the value index, GUINNESS recorded the highest value for the day trading stocks worth N975 million in 40 deals followed by ACCESS CORP which traded equities worth N728 million in 506 deals.

GTCO traded stocks worth N633 million in 222 deals.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now

Exit mobile version