Business
NGX: Royal Exchange, STI among top losers as investors shed N14bn
The Nigerian stock market closed the week on a bearish note as investors lost N14 billion on Friday.
This followed a dip in the share prices of stocks like DEAPCAP, ROYAL EXCHANGE, and SOVEREIGN TRUST INSURANCE amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization crashed to ₦65.7 trillion from ₦65.8 trillion posted by the bourse on Thursday.
The benchmark All-Share Index (ASI) decreased to 104,563.34 points from 104,788.25 points recorded the previous day.
The market breadth was positive as 36 stocks advanced and 19 stocks declined, while 68 stocks remained unchanged in 10,791 deals.
CAVERTON, VFDGROUP and ABBEY MORTAGE BANK led other gainers with 9.96%, 9.90%, and 9.86% growth each in price to close at N2.54, N87.80 and N6.13 from the previous N2.31, N79.80 and N5.58 per share.
READ ALSO: NGX: Equities market ends week with N8.38bn loss
DEAPCAP, ROYAL EXCHANGE, and SOVEREIGN TRUST INSURANCE led other price decliners with 9.71%, 9.09% and 7.61% dip in share prices to close at N0.93, N0.80 and N0.85 from the previous N1.03, N0.88 and N0.92 per share.
On the volume index, ACCESS CORP led trading with 73 million shares in 934 deals, followed by ZENITH BANK, which traded 33 million shares in 619 deals.
CUTIX traded 29 million shares in 118 deals.
On the value index, GTCO traded stocks worth N1.7 billion in 567 deals, followed by ZENITH BANK, which traded equities worth N1.6 billion in 619 deals.
ACCESS CORP traded shares valued at N1.5 billion in 934 deals.
By: Babajide Okeowo
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