Nigeria’s equities market slips to bear territory as investors lose N89bn

Investors in the Nigerian equities market lost N89 billion at the close of trading on Wednesday.

The bourse had recorded two consecutive profits on the trading floor before today’s losses.

This followed the dip in the share price of Multiverse, Cornerstone, and Deap Cap amongst others in today’s trading.

After five hours of trading at the capital market, the equity capitalization decreased to N55.50 trillion from N55.59 trillion posted by the bourse on Tuesday.

Similarly, the All-Share Index (ASI) decreased to 98,128.00 from 98,285.33 recorded the previous day.

The market breadth was negative as 19 stocks advanced, 20 declined, while 79 others remained unchanged in 7,383 deals.

Tantalizer, WAPIC Insurance, and OMATEK led other gainers with 8.00%, 7.81% and 7.69% growth in share price to close at N0.54, N0.69, and N0.70 from the previous N0.50, N0.64, and N0.65 per share respectively.

On the flip side, Multiverse, Cornerstone, and Deap Capital Management & Trust (DEAPCAP) led other price decliners as they shed 9.82%, 9.52%, and 9.09% each to close at N12.40, N1.90, and N0.40 from the initial N13.75, N2.10, and N0.44% per share.

On the volume index, Access Corp traded 35.576 million shares valued at N607 million in 606 deals followed by Zenith Bank which traded 35.357 million shares worth N1.10 billion in 854 deals.

GTCO traded 35.008 million shares valued at N1.34 billion in 403 deals.

On the value index, GTCO recorded the highest value for the day trading stocks worth N1.34 billion in 403 deals followed by Zenith Bank which traded equities worth N1.10 billion in 854 deals.

UBA traded stocks worth N641 million in 677 deals.

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