NGX: Investors lose N29bn in five hours

Investors in the Nigerian equities market lost N29 billion at the close of trading on Friday.

This followed a dip in the share prices of stocks such as Legend Internet, Zichis and MC Nichols, among others on the trading floor.

The benchmark All-Share Index (ASI) crashed to 200,913.06 points from the 200,957.89 points recorded the previous day.

After five hours of trading on the capital market, equity capitalisation dropped to N128.9 trillion from N128.9 trillion posted by the bourse on Thursday.

The market breadth was negative, with 33 stocks advancing, 36 declining, and 79 remaining unchanged in 43,440 deals.

A total of 595,153,063 shares were traded, valued at N24.4 billion.

Premier Paints, Zichis and MC Nichols led the gainers’ chart, with 9.97%, 9.97% and 9.93% growth each in share prices, respectively, to close at N37.50, N13.79, and N7.42 per share, up from N34.10, N12.54, and N6.75 per share.

E-Tranzact, Abbey Buildings and Cadbury led other price decliners with a 10% dip each in price to close at N20.70, N9.90, and N63.00 per share, down from the previous N23.00, N11.00, and N70.00 per share.

On the volume index, Wema Bank led trading with 131 million shares in 524 deals, followed by Legend Internet, which traded 41 million shares in 624 deals.

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Zichis traded 35 million shares in 412 deals.

On the value index, Wema Bank traded stocks valued at N3.4 billion in 524 deals, followed by Aradel, which traded equities worth N2.7 billion in 1, 068 deals.

MTN Nigeria traded shares valued at N2.7 billion in 3,891 deals.

Babajide Okeowo

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