NGX: Equities market slumps further as investors lose N107bn

Investors in the Nigerian equities market lost N107 billion at the close of trading on Wednesday.

This followed a dip in the share prices of stocks such as Presco, UACN, and Morison among others on the trading floor.

The benchmark All-Share Index (ASI) decreased to 125,857,53 points from the 196,066.11 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalisation rose to N125.7 trillion from N125.8 trillion posted by the bourse on Monday.

The market breadth was negative, with 29 stocks advancing, 40 declining, and 69 remaining unchanged in 58,792 deals.

A total of 671,273,135 shares were traded, valued at N26.1 billion.

NGX Group, Premier Paint and Omatek led the gainers’ chart, with 10%, 9.92% and 8.95% growth in share prices, respectively, to close at N186.45, N19.40, and N2.80 per share, up from N169.50, N17.65, and N2.57 per share.

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Presco, UACN, and Morison led other price decliners with a 10%, 9,97% and 9.94% dip each in price to close at N2,083.90, N104.25, and N10.87 per share, down from the previous N2315.40, N115.80, and N12.07 per share.

On the volume index, Wema Bank led trading with 106 million shares in 774 deals, followed by Access Bank Holding, which traded 59 million shares in 1,916 deals.

Mutual Benefit traded 38 million shares in 680 deals.

On the value index, Wema Bank traded stocks valued at N2.7 billion in 774 deals, followed by Aradel, which traded equities worth N2.0 billion in 1,751 deals.

Dangote Cement traded shares valued at N1.9 billion in 2,108 deals.

Babajide Okeowo

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