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NGX: Poor performances by PZ, MORISON, others cost investors N183bn



Poor performances by PZ, MORISON, CWG, and other entities cost investors in the Nigerian capital market N183 billion at the close of trading on Tuesday.

This followed the crash in the market capitalization to N55.6 trillion from N55.8 trillion posted by the bourse the previous day.

Similarly, the All-Share Index (ASI) decreased to 101,707.70 from 102,042.32 recorded on Monday.

The market breadth also closed negative as 24 stocks advanced, 29 declined, while 68 others remained unchanged in 8,614 deals.

Honeywell Flour led other gainers with 9.92% growth in share price to close at N4.32 from the previous N3.93 per share.

Juli, Cornerstone Insurance, and ABC Transport also posted 9.90%, 9.88, and 9.76% gains in today’s trading.

On the losers’ chart, PZ Cussons led other price decliners as it shed 9.87% off its share price to close at N25.10 from the previous N27.85 per share.

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

Morison Industries, Computer Warehouse Group (CWG), and E-Tranzact Plc completed the list of decliners with 9.84%, 9.70%, and 9.70 dip in their share prices.

On the volume index, Veritas Kapital Assurance traded 49.075 million shares valued at N39.0 million in 143 deals followed by United Bank for Africa (UBA) with 24.342 million shares worth N587.5 million traded by shareholders in 507 deals.

Fidelity Bank traded 20.075 million shares valued at N217.3 million in 302 deals.

On the value index, UBA traded equities worth N587 million in 507 deals followed by Zenith Bank with worth N578 million in 599 deals.

Geregu traded stocks worth N357 million in 229 deals.

By; Babajide Okeowo

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