NGX: Equities market begins week in red as investors lose N98bn

Investors in the Nigerian equities market lost N98 billion at the close of trading on Monday.

This followed the dip in the share prices of stocks such as Deap Capital Management & Trust, Champion, and Red Star Express, among others, on the trading floor.

The benchmark All-Share Index (ASI) fell to 155,496.15 points from the 155,645.05 points recorded the previous day.

After five hours of trading at the capital market, the equity capitalisation decreased to N98.6 trillion from N98.7 trillion posted by the bourse on Friday.

The market breadth was negative with 25 stocks advancing, 34 stocks declining, and 87 stocks remaining unchanged in 39,972 deals.

An aggregate of 503,003,214 units of shares was traded, valued at N24.9bn

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Aradel Holding, NEM Insurance, and Aso Savings & Loans led other gainers with 10%, 9.67% and 9.09% growth each in share prices to close at N869.00, N32.90, and N0.72 from the previous N790.00, N30.00, and N0.66 per share.

Deap Capital Management & Trust, Champion, and Red Star Express led other price decliners with a 9.71%, 9.64%, and 8.64% dip in share price to close at N1.58, N15.00, and N10.05 per share, down from the previous N1.75, N16.60, and N11.00 per share.

On the volume index, Access Holding Plc led trading with 68 million shares in 2, 236 deals, followed by First HoldCo, which traded 66 million shares in 730 deals.

Universal Insurance Plc traded 19 million shares in 139 deals.

On the value index, Aradel Holding traded stocks valued at N5.6 billion in 2,085 deals, followed by Presco, which traded equities worth N2.2 billion in 623 deals.

First HoldCo traded shares valued at N2.0 billion in 730 deals.

By Babajide Okeowo

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