NGX: Equities market slumps as investors lose N577bn

Investors in the Nigerian equities market lost N577 billion at the close of trading on Tuesday.

This followed the dip in the share prices of stocks such as Mecure, Sky Aviation, and Zenith Bank, among others, on the trading floor.

The benchmark All-Share Index (ASI) decreased to 189,362.94 points from the 190,262.44 points recorded on the previous trading day.

After five hours of trading at the capital market, the equity capitalisation decreased to N121.5 trillion from N122.1 trillion posted by the bourse on Monday.

The market breadth was positive, with 67 stocks advancing, 27 declining, and 54 remaining unchanged in 86,607deals.

A total of 1,199,845,750 shares were traded, valued at N60.1 billion.

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ABC Transport, Zichis, and Red Star Express led the gainers’ chart, with 9.94%, 9.93% and 9.87% growth in share prices, respectively, to close at N9.07, N13.06, and N29.50 per share, up from N8.25, N11.88, and N26.85 per share.

Mecure, Sky Aviation, and Zenith Bank led other price decliners with a 10% dip each in price to close at N93.60, N117.00, and N80.55 per share, down from the previous N104.00, N130.00, and N89.50 per share

On the volume index, Access Holding Company led trading with 103 million shares in 3,844 deals, followed by Zenith Bank, which traded 93 million shares in 4,944 deals.

Japaul Gold traded 73 million shares in 425 deals.

On the value index, Zenith Bank traded stocks valued at N8 billion in 4,944 deals, followed by Aradel, which traded equities worth N5.4 billion in 2,391 deals.

MTN Nigeria traded shares valued at N5.0 billion in 8,377.

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