NGX: Investors shed N579bn in five hours   

 Investors in the Nigerian equities market lost N579 billion at the close of trading on Tuesday.

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

The benchmark All-Share Index (ASI) craahed to 196,066.11 points from the 196,968.15 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalisation rose to N125.8 trillion from N126.5 trillion posted by the bourse on Monday.

The market breadth was negative, with 33 stocks advancing, 42 declining, and 72 remaining unchanged in 65,275 deals.

A total of 746,852,477 shares were traded, valued at N27.8 billion.

Premier Paints, Sunu Assurance and Conoil led the gainers’ chart, with 9.97%, 9.95% and 9.95% growth in share prices, respectively, to close at N17.65, N4.75, and N204.40 per share, up from N16.05, N4.32, and N185.90 per share.

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Mutual Benefit, NASCON, and Red Star Express led other price decliners with a 10%, 10% and 9.94% dip each in price to close at N4.59, N147.60, and N28.55 per share, down from the previous N5.10, N164.00, and N31.70 per share.

On the volume index, Access Holding Plc led trading with 80 million shares in 2,202 deals, followed by Mutual Benefit Plc, which traded 52 million shares in 747 deals.

FTG Insure traded 41 million shares in 601 deals.

On the value index, Zenith Bank traded stocks valued at N3.2 billion in 2, 756 deals, followed by Aradel, which traded equities worth N3.2 billion in 2,229 deals.

Access Holding Corp traded shares valued at N2 billion in 2,202 deals.

Babajide Okeowo

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