Nigeria’s equities market dips further as investors lose N84bn

The Nigerian equities market dipped further on Thursday as investors lost N84 billion at the close of the day’s trading.

This followed a dip in the share price of Sky Aviation, NEM Insurance and FTN COCOA, amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization decreased to N55.42 trillion from N55.50 trillion posted by the bourse on Wednesday.

Similarly, the All-Share Index (ASI) decreased to 97,978.02 from 98,128.00 recorded the previous day.

The market breadth was negative as 16 stocks advanced, 28 declined, while 74 others remained unchanged in 7,852 deals.

READ ALSO: NGX: Investors lose N132bn as PZ, Dangote Sugar stocks tumble

CI Leasing, Caverton, and Chams led other gainers with 9.90%, 7.69% and 7.14% growth in share price to close at N3.44, N1.40, and N1.50 from the N3.13, N1.30, and N1.40 per share respectively.

On the flip side, Sky Aviation, NEM Insurance and FTN COCOA led other price decliners as they shed 9.80%, 9.47% and 9.35% each to close at N20.70, N7.65 and N1.26 from the initial N22.95, N8.45 and N1.26% per share.

On the volume index, UBA traded 50.316 million shares valued at N984 million in 788 deals followed by GTCO which traded 38.543 million shares worth N1.42 billion in 307 deals.

Zenith Bank traded 28.942 million shares valued at N878 million in 862 deals.

On the value index, Julius Berger recorded the highest value for the day trading stocks worth N1.46 billion in 303 deals followed by GTCO which traded equities worth N1.42 billion in 307 deals.

UBA traded stocks worth N984 million in 788 deals.

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