NGX: Investors start off with loss, shed N238bn at end of trading

Investors in the Nigerian equities market got the week off on a losing note as they recorded a loss of N238bn following poor performances by stocks like DAARCOMM, UPDC, MTNN, REGALINS amongst others.

This is even as the NGX-All-Share Index ASI decreased to 104,663.34 from 105,085.25 recorded at the close of the previous trading day on the bourse.

Similarly, the market capitalization decreased today by N238.55 billion to N59.177 trillion from N59.416 trillion recorded at the close of the previous trading day.

The market breadth was positive as 27 stocks advanced, 17 stocks declined, while 72 stocks remained unchanged in 9,077 deals.

ABC Transport led other gainers with 9.86% growth to close at N0.78 from its previous price of N0.71. NEM insurance, Livestock Feed, and NGX Group Plc are amongst other gainers that also grew their share prices by 9.77%, 9.68%, and 9.55% respectively.

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

McNichol Plc led other price decliners as it shed 9.30% off its share price to close at N1.17, from its previous closing price of N1.29.

Daar Communications, UPDC, and MTN Nigeria Communications Plc amongst other losers also shed their share prices by 8.97%,7.89%, and 7.58% respectively.

On the volume index, United Bank for Africa (UBA) Plc traded 46.232 million units of its shares in 356 deals, valued at N1.190 billion followed by Guaranty Trust Bank Holding Company (GTCO) Plc which traded 35.350 million units of its shares in 483 deals, valued at N1.651 billion and Transcorp Plc which traded 21.506 million units of its shares in 532 deals, valued at N834.035 million.

On the value index, TRANSPOWER recorded the highest value for the day trading equities worth N3.626b in 533 deals followed by GTCO which traded stocks worth N1.650bn in 483 deals and UBA which traded stocks worth N1.189bn in 556 deals.

By Babajide Okeowo

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