Business
Nigeria’s equity market sustains bearish trend with N148bn loss
Investors in the Nigerian equities market endured another bearish trading session losing N148 billion at the close of trading on Thursday.
This followed a dip in the share prices of stocks like FLOUR MILL, JOHN HOLT and INTENEGINS amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization crashed to N58.9 trillion from N59.066 trillion recorded the previous day.
The benchmark All-Share Index (ASI) decreased to 97,233.07 from 97,477.80 recorded the previous day.
The market breadth was positive as 31 stocks advanced and 14 stocks declined, while 72 stocks remained unchanged 7,931 deals.
READ ALSO: UBA, CAP, Eunisell, Unilever, others top list of stocks to watch this week
FLOUR MILL, JOHN HOLT and INTENEGINS led other gainers with 10%, 9.86% and 9.85% growth each in share prices to close at N71.50, N7.02, and N1.45 from the previous N65.00, N6.39, and N1.32 per share.
ABBEYBDS, ABCTRANS, and CONOIL led other price decliners with 9.77%, 9.45%, and 6.15% decline each in share prices to close at N2.40, N1.15, and N244.00 from the previous N2.66, N1.27 and N260.00 per share.
On the volume index, ACCESS CORP led trading with 60 million shares in 466 deals followed by UBA which traded 17 million shares in 497 deals.
ZENITH BANK traded 16 million shares in 344 deals.
On the value index, ACCESS CORP traded stocks worth N1.5 billion in 466 deals followed by OANDO which traded equities worth N950 million in 1, 202 deals.
ARADEL traded shares valued at N838 million in 392 deals.
By: Babajide Okeowo
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