NGX: Investors lose N2.2tr as equity market continues to bleed

Investors in the Nigerian equities market lost another N2.28 trillion by the close of trading on Wednesday to continue its bearish sentiment.

This followed a dip in the share prices of stocks such as Wapco, Zichis, and Learn Africa, among others, on the trading floor.

The benchmark All-Share Index (ASI) decreased to 243,132.61 points from the 246,686.66 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalisation dipped to N153.9 trillion from N158.2 trillion posted by the bourse on Tuesday.

The market breadth was negative, with 15 stocks advancing, 44 declining, and 83 remaining unchanged in 69,332 deals.

A total of 922,968,493 shares were traded, valued at N42.2 billion.

Abbey Mortgage, Intenegins and Tripple G led the gainers’ chart, with 9.93%, 9.89% and 9.80% growth in share prices, respectively, to close at N7.75, N6.00 and N4.37 per share, up from N7.05, N5.46 and N3.98 per share.

READ ALSO:NGX: PZ, CWG top losers as investors shed N478bn

Wapco, Zichis, and Learn Africa led other price decliners, with declines of 9.97%, 9.82%, and 9.80%, respectively, to close at N307.90, N29.20, and N11.50 per share, down from N342.00, N32.38, and N12.75 per share, respectively.

On the volume index, Sterling Bank led trading with 264 million shares in 434 deals, followed by Access Holding Co , which traded 76 million shares in 2,644 deals.

Linkage Assurance traded 55 million shares in 165 deals.

On the value index, MTN Nigeria traded stocks valued at N12.2 billion in 6,524 deals, followed by Zenith Bank, which traded equities worth N4 billion in 5,707 deals.

Aradel traded shares valued at N2.6 billion in 1,305 deals.

Babajide Okeowo

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