Business
Nigerian equities market investors lose N72.09bn in five hours
Investors in the Nigerian equities market lost N72. 09 billion at the close of trading on Friday.
This followed the dip in the share prices of stocks like MULTIVERSE, ARADEL, and INTENEGINS amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization fell to N61.30 trillion from N61.37 trillion recorded by the bourse on Thursday.
The benchmark All-Share Index (ASI) decreased to 101,129.09 from 101,248.02 points recorded the previous day.
The market breadth was positive as 38 stocks advanced and 15 stocks declined, while 68 stocks remained unchanged in 11,554 deals.
UACN, HONEY FLOUR, and UNIVERSAL INSURANCE led other gainers with 10% growth each in share prices to close at N30.25, N6.05 and N0.44 from the previous N27.50, N5.50 and N0.40 per share.
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MULTIVERSE, ARADEL, and INTENEGINS led other price decliners with 9.80%, 9.09%, and 8.13% decline each in share prices to close at N4.60, N664.00, and N1.47 from the previous N5.10, N730.40 and N1.60 per share.
On the volume index, ZENITH BANK led trading with 60 million shares in 458 deals followed by UBA which traded 43 million shares in 737 deals.
STERLING NIGERIA traded 43 million shares in 211 deals.
On the value index, ZENITH BANK traded stocks worth N2.7 billion in 498 deals followed by SEPLAT which traded equities worth N2.1 billion in 87 deals.
ARADEL traded shares valued at N1.9 billion in 683 deals.
By: Babajide Okeowo
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