NGX: Oando, ABCTRANS, others drag equities market down as investors lose N84bn

For the fourth consecutive day this week, the bearish trend in the Nigerian equities market continued on Thursday as investors lost N84 billion at the close of trading.

This followed the dip in the share prices of stocks like OANDO, ABCTRANS, and GUINEAINS amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization decreased to N55.1 trillion from N55.2 trillion recorded by the bourse on Wednesday.

The All-Share Index (ASI) also decreased to 97,100.36 from 97,248.82 recorded the previous day.

The market breadth was negative as 14 stocks advanced and 31 declined, while 67 others remained unchanged in 7, 233 deals.

NEIMETH, TOTAL, and AIICO led other gainers with 9.55% 8.82%, and 6.54% each in share prices to close at N2.18, N511.90, and N1.14 from the previous N1.99, N470.40, and N1.07 per share.

READ ALSO: NGX: Julius Berger leads gainers as investors make N270bn in five hours

On the flip side, OANDO, ABCTRANS and GUINEAINS led other price decliners as they shed 9.94%, 9.52%, and 9.09% each to close at N32.60, N0.76, and N0.40 from the initial N36.20, N0.84, and N0.44 per share.

On the volume index, VERITASKAP led trading with 33 million shares valued at N47 million in 135 deals followed by STERLINGNG which traded 16 million shares valued at N65 million in 62 deals.

AIICO traded 16 million shares valued at N18 million in 104 deals.

On the value index, GTCO recorded the highest value for the day trading stocks worth N725 million in 310 deals followed by OANDO which traded equities worth N406 million in 460 deals.

ZENITH BANK traded shares valued at N370 million in 358 deals.

By: Babajide Okeowo

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