Business
NGX: Investors lose N84b as stocks tumble
Investors in the Nigerian equities market lost N84 billion at the end of trading on Thursday.
This followed the dip in the share price of May & Baker, Fidelity Bank, and Sovereign Trust Insurance, amongst others on the trading floor today.
After five hours of trading at the capital market, the equity capitalization crashed to N56.07 trillion from N56.1 trillion posted by the bourse on Wednesday.
Similarly, the All-Share Index (ASI) decreased to 99,134.85 from 99,284.38 recorded the previous day.
The market breadth was negative as 17 stocks advanced, 18 declined, while 80 others remained unchanged in 6,765 deals.
OANDO, ETERNA, and VERITASKAP led other gainers with 9.77%, 9.67%, and 9.52% growth in share price to close at N14.05, N14.75, and N0.69 from the previous N12.80, N13.45, and N0.63 per share.
READ ALSO: NGX: Stock market rebounds from trading losses as investors make N345bn
On the flip side, May & Baker, Fidelity Bank, and Sovereign Trust Insurance led other price decliners as they shed 10%, 9.72%, and 9.52% each to close at N6.03, N9.75, and N0.38 from the initial N6.70, N10.80, and N0.42 per share.
On the volume index, FIDELITY BANK traded 49.195 million shares valued at N483 million in 337 deals followed by ACCESS CORP which traded 42.384 million worth N728 million shares in 506 deals.
OANDO traded 28.617 million shares valued at N394 million in 642 deals.
On the value index, GUINNESS recorded the highest value for the day trading stocks worth N975 million in 40 deals followed by ACCESS CORP which traded equities worth N728 million in 506 deals.
GTCO traded stocks worth N633 million in 222 deals.
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