Business
NGX: PZ, FT Cocoa among top losers as investors shed N73bn
The Nigerian equities market recorded third consecutive losses this week as investors dropped N73 billion at the close of trading on Wednesday.
This followed the dip in the value of FTN Cocoa, PZ, and SterlingNG amongst others on the trading floor today.
After five hours of trading at the capital market, the equity capitalization dropped to N55.058 trillion from N55.132 trillion posted by the bourse on Tuesday.
Similarly, the All-Share Index (ASI) decreased to 97,343.42 from 97,473.98 at the close of the previous trading day.
The market breadth was negative as 13 stocks advanced, 29 declined, while 78 stocks remained unchanged in 7,333 deals.
Custodian & Allied, International Energy Insurance, and Sovereign Trust Insurance led other gainers with 9.63%, 9.29%, and 7.89% growth in share price to close at N10.25, N1.53, and N0.412 from their previous N9.35, N1.40, and N0.38 per share respectively.
READ ALSO: Investors lose N268bn as bears maintain grip in Nigeria’s stock market
On the flip side, FTN Cocoa, PZ, and Sterling NG led other price decliners as they shed 10%, 10% and 9.89% each to close at N1.44, N20.25 and N4.01 from the initial N1.60, N22.50 and N4.45% per share.
On the volume index, GTCO traded 71.872 million shares valued at N3.07 billion in 544 deals followed by Access Corp which traded 24.167 million shares worth N416 million in 653 deals.
Tantalizers traded 21.304 million shares in 214 deals valued at N12.4m.
On the value index, GTCO recorded the highest value for the day trading stocks worth N3.03 billion in 544 deals followed by MTN Nigeria which traded stocks worth N831 million in 287 deals.
Access Corp traded equities worth N416 million in 653 deals.
By: Babajide Okeowo
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