NGX: Equities market snaps bullish run as investors lose N900bn

Investors in the Nigerian equities market lost N900 billion at the end of trading on Wednesday.

This followed a dip in the share prices of stocks such as Red Star Express, Aradel, and Presco among others on the trading floor.

The benchmark All-Share Index (ASI) decreased to 201,156.85 points from the 202,559.41 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalisation fell to N129.1 trillion from N130.05 trillion posted by the bourse on Tuesday.

The market breadth was negative, with 31 stocks advancing, 38 declining, and 78 remaining unchanged in 58,562 deals.

A total of 6,061,256,239 shares were traded, valued at N130 billion.

READ ALSO: NGX: Bearish sentiment persists in stock market as investors lose N367bn

Secure Electronics, Guinness and John Holt led the gainers’ chart, with 10%, 9.92% and 9.72% growth each in share prices, respectively, to close at N1.32, N423.20, and N11.85 per share, up from N1.20, N385.00, and N10.80 per share.

Red Star Express, Aradel, and Presco led other price decliners with a 9.98%, 9.68% and 9.30% dip each in price to close at N25.70, N1,210.30, and N1,701.10 per share, down from the previous N28.55, N1,340.00, and N1,875.60 per share.

On the volume index, E-Tranzact led trading with 5.17 billion shares in 253 deals, followed by Wema Bank, which traded 111 million shares in 742 deals.

Wapic traded 96 million shares in 105 deals.

On the value index, Dangote Cement traded stocks valued at N56.4 billion in 2,569 deals, followed by E-Tranzact, which traded equities worth N24.2 billion in 253 deals.

MTN Nigeria traded shares valued at N6.9 billion in 5,609 deals.

Babajide Okeowo

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