Nigeria’s equities market extends bearish trading as investors lose N480bn

For the fourth consecutive day, the equities market closed in the negative as investors lost N480 billion following poor performances by Unity Bank, STERLINGNG, and other entities on Thursday.

This followed the dip in the market capitalization to N55.3 trillion from N55.8 trillion posted by the bourse on Wednesday.

Similarly, the All-Share Index (ASI) decreased to 101,227.42 from 102,106.31 recorded the previous day.

The market breadth also closed negative as seven stocks advanced and 53 declined, while 60 others remained unchanged in 10,957 deals.

Meyer led other gainers with 9.97% growth in share price to close at N6.29 from the previous N5.72 per share.

Juli, Tantalizer, and Royal Exchange posted 9.52%, 4.76, and 4.05% increase in their share prices.

On the flip side, Nascon and Allied Industries, Sterling Bank Holding, Consolidated Hallmark Holding, and Unity Bank led other price decliners as they shed 10% each off their share prices to close at N58.50, N5.31, N1.44, and N2.52 from their previous close of N65.00, N5.90, N1.60, and N2.80 per share.

READ ALSO: GSK secures SEC approval to delist N20bn worth of stocks from NGX

Eterna, PZ Cussons, and May and Baker with 9.95%, 9.91%, and .9.85 dip in their share prices completed the list of losers in today’s trading.

On the volume index, Universal Insurance traded 42.766 million shares valued at N16.09 million in 107 deals followed by Transcorp with 41.536 million shares worth N528.07 million in 723 deals.

Zenith Bank traded 31.746 million shares valued at N1.12 billion in 752 deals.

On the value index, Zenith Bank traded stocks worth N1.123 billion in 752 deals followed by UBA with N741million in 808 deals.

Access Corp traded stocks worth N729 million in 679 deals to complete the top three in this category.

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