Business
NGX: Bears return to equities market as investors lose N176bn
After days of positive trading, the Nigeria equities market slipped back to bearish territory on Wednesday as investors lost N176 billion at the close of trading.
This followed the dip in the share prices of stocks like Neimeth, Tantalizers, and MTN Nigeria, amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization crashed to N55.2 trillion from N55.4 trillion recorded by the bourse on Tuesday.
The All-Share Index (ASI) also decreased to 96,203.65 from 96,510.13 recorded the previous day.
The market breadth was positive as 34 stocks advanced and 14 declined, while 69 others remained unchanged in 10,148 deals.
READ ALSO: NGX: Investors end week with N56bn loss as stocks tumble
IMG, Chams, and Oando led other gainers with 10%, 9.95%, and 9.94% growth each in share prices to close at N26.40, N2.32, and N63.60 from the previous N24.00, N2.11, and N57.85 per share.
On the flip side, Neimeth, Tantalizers, and MTNN led other price decliners as they shed 9.09%, 8.64%, and 7.91% each to close at N2.00, N0.74, and N184.00 from the initial N2.20, N0.81, and N199.80 per share.
On the volume index, UNIVINSURE led trading with 52 million shares valued at N187 million in 135 deals followed by JAPAUL GOLD which traded 51 million shares valued at N145 million in 595 deals.
PRESTIGE traded 35 million shares valued at N195 million in 86 deals.
On the value index, OANDO recorded the highest value for the day trading stocks worth N620 million in 306 deals followed by ACCESS CORP which traded equities worth N356 million in 456 deals.
ZENITH BANK traded shares valued at N351 million in 369 deals.
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