NGX: UBA, Oando, others drag down capital market as investors lose N338bn

Investors in the Nigerian equities market lost N338 billion at the close of trading on Wednesday.

This followed a dip in the share prices of stocks like UBA, Oando, and Thomaswyn amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization crashed to N 58.5 trillion from N58.8 trillion recorded by the bourse on Tuesday.

The benchmark All-Share Index (ASI) decreased to 96,567.24 from 97,123.61 recorded the previous day.

The market breadth was flat as 20 stocks advanced and 20 stocks declined, while 79 stocks remained unchanged in 9, 021 deals.

EUNISELL, REGALINS, and VERITASKAP led other gainers with 9.87%, 9.30% and 9.17% growth each in share prices to close at N7.46, N0.47, and N1.31 from the previous N6.79, N0.43 and N1.20 per share.

READ ALSO: NGX: Nigeria’s equities market rebounds with N131bn gain for investors

UBA, OANDO, and THOMASWYN led other price decliners with 9.99%, 9.98%, and 9.79% decline each in share prices to close at N31.55, N65.40, and N1.75 from the previous N35.05, N72.65 and N1.95 per share.

On the volume index, STERLING BANK led trading with 79 million shares in 124 deals followed by UBA which traded 77 million shares in 1, 272 deals.

ACCESS CORP traded 44 million shares in 759 deals.

On the value index, UBA traded stocks worth N2.5 billion in 1,272 deals followed by SEPLAT which traded equities worth N1.3 billion in 88 deals.

ARADEL traded shares valued at N1.2 billion in 634 deals.

By: Babajide Okeowo

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