NGX: Investors return from Sallah break with N47bn loss

The equities market resumed from the Eid-El-Kabir holiday with investors losing N47 billion at the end of trading session on Wednesday.

This followed a dip in the share price of stocks like CAVERTON, ABC TRANSPORT, and NB amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization crashed to N56.4 trillion from N56.5 trillion posted by the bourse on Friday.

Similarly, the All-Share Index (ASI) decreased to 99,840.95 from 99,925.29 recorded the previous trading day.

The market breadth was positive as 40 stocks advanced, 15 declined, while 70 others remained unchanged in 9, 899 deals.

UPL, GUINNESS, and CHAMPION led other gainers with 10%, 9.96%, and 9.83% growth in share price to close at N2.75, N66.25, and N3.24 from the previous N2.50, N60.25, and N2.95 per share.

READ ALSO: NGX: Investors begin week with N323bn profit

On the flip side, CAVERTON, ABC TRANSPORT, and NB led other price decliners as they shed 9.62%, 9.52%, and 8.37% each to close at N1.41, N0.57, and N29.00 from the initial N1.56, N0.63, and N31.65 per share.

On the volume index, FIDELITY BANK led trading with 1.046 billion shares valued at N11.3 billion in 466 deals followed by AIICO which traded 60.670 million shares valued at N588 million in 293 deals.

VERITASKAP traded 55.731 million shares valued at N443 million in 103 deals.

On the value index, FIDELITY BANK recorded the highest value for the day trading stocks worth N11.3 billion in 466 deals followed by GEREGU which traded equities worth N1.09 billion in 61 deals.

MTN Nigeria traded stocks worth N596 million in 454 deals.

By: Babajide Okeowo

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