Business
NGX: Ellah Lakes, Caverton among top losers as investors shed N187.6bn in five hours
The Nigerian equities market resumed after the Independence Day holiday with a N187.6 billion loss for investors at the close of trading on Wednesday.
This followed a dip in the share prices of stocks like INTBREW (International Breweries) MEYER (Meyer Plc previously DN Meyer) and VERITASKAP (Veritas Kapital Assurance Plc) 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 N56.6 trillion recorded by the bourse on Monday.
The benchmark All-Share Index (ASI) decreased to 98,232.39 from 98,523.56 recorded the previous day.
The market breadth was negative as 24 stocks advanced and 31 stocks declined, while 63 stocks remained unchanged in 11,954 deals.
INTERNATIONAL BREWERIES, MEYER, and VERITASKAP led other gainers with 9.98%, 9.94%, and 9.93%growth each in share prices to close at N4.41, N8.52, and N1.66 from the previous N4.01, N7.75, and N1.51 per share.
READ ALSO: MTNN, Zenith, FBNH, Oando others top list of stocks to watch this week
On the flip side, ELLAHLAKES (Ellah Lakes Plc), CAVERTON (Caverton Offshore Support Group) and ABCTRANS (Associated Bus Company) led other price decliners as they shed 9.93%, 9.92%, and 9.57% each to close at N3.99, N2.18 and N1.04 from the initial N4.43, N2.42, and N1.15 per share.
On the volume index, UBA led trading with 108 million shares valued at N3 billion in 2,013 deals followed by ZENITH BANK which traded 35 million shares valued at N1.3 billion in 468 deals.
VERITASKAP traded 30 million shares valued at N49 million in 214 deals.
On the value index, UBA recorded the highest value for the day trading stocks worth N3 billion in 2,013 deals followed by ZENITH BANK which traded equities worth N1.3 billion in 468 deals.
OANDO traded shares valued at N934 million in 892 deals.
By: Babajide Okeowo
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