NGX: Investors end week with N56bn loss as stocks tumble

Investors in the Nigerian equities market ended the week’s trading with a N56 billion loss on Friday.

This followed the dip in the share price of stocks like MULTIVERSE, RTBRISCOE, and SUNUASSUR amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization crashed to N56.42 trillion from N56.47 trillion posted by the bourse on Thursday.

The All-Share Index (ASI) decreased to 99,743.05 from 99,842.94 recorded the previous trading day.

The market breadth was negative as 21 stocks advanced, 26 declined, while 75 others remained unchanged in 9,273 deals.

INTERNATIONAL BREWERIES, THOMASWY, and CHAMS led other gainers with 10%, 9.95% and 9.86% growth in share price to close at N4.40, N2.10, and N2.34 from the previous N4.00, N1.91, and N2.13 per share.

READ ALSO: NGX: Investors close week with N52bn profit

On the flip side, MULTIVERSE, RTBRISCOE, and SUNUASSUR led other price decliners as they shed 9.68%, 7.46%, and 6.25% each to close at N11.20, N0.62, and N1.20 from the initial N12.40, N0.67, and N1.28 per share.

On the volume index, FBNH led trading with 207.913 million shares valued at N4.57 billion in 544 deals followed by GTCO which traded 58.553 million shares valued at N2.60 billion in 427 deals.

VERITASKAP traded 57.594 million shares valued at N55 million in 160 deals.

On the value index, FBNH recorded the highest value for the day trading stocks worth N4.57 billion in 544 deals followed by GTCO which traded equities worth N2.60 billion in 427 deals.

ZENITH BANK traded stocks worth N559 million in 461 deals.

By: Babajide Okeowo

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