Business
NGX: Equities market in massive slump as investors lose N671bn
Investors in the Nigerian equities market lost N671 billion at the close of trading on Thursday.
This followed a dip in the share prices of stocks like Dangote Cement, NSL TECH, and UPDCREIT, amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization crashed to N55.7 trillion from N56.4 trillion recorded by the bourse on Wednesday.
The benchmark All-Share Index (ASI) decreased to 97,064.42 from 98,232.39 recorded the previous trading day.
The market breadth was negative as 23 stocks advanced and 27 stocks declined, while 65 stocks remained unchanged in 8,565 deals.
SEPLAT, LIVESTOCK, and REGALINS led other gainers with 10%, 9.93%, and 9.76% growth each in share prices to close at N4, 513.40, N2.99, and N0.90 from the previous N4, 103.10, N2.72, and N0.82 per share.
On the flip side, Dangote Cement, NSL TECH, and UPDCREIT led other price decliners as they shed 10%, 7.58%, and 4.72% each to close at N478.80, N0.61 and N5.05 from the initial N532.00, N0.66, and N5.30 per share.
READ ALSO: NGX: Investors lose N84b as stocks tumble
On the volume index, United Bank for Africa (UBA) led trading with 37 million shares valued at N993 million in 909 deals followed by ZENITH BANK which traded 19 million shares valued at N716 million in 323 deals.
DEAPCAP traded 13 million shares valued at N20 million in 159 deals.
On the value index, SEPLAT recorded the highest value for the day trading stocks worth N2.3 billion in 13 deals followed by UBA which traded equities worth N993 million in 909 deals.
ZENITH BANK traded shares valued at N716 million in 323 deals.
By: Babajide Okeowo
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