Equities market slumps, foists N71bn loss on investors

Investors in the Nigerian equities market lost N71 billion at the close of trading on Tuesday.

This followed the dip in the share prices of stocks Austin Laz, Deep Capital, and FTN Cocoa, among others, on the floor of the bourse.

The benchmark All-Share Index (ASI) fell to 141,546.78 points from 141,659.00 points recorded the previous day.

After five hours of trading at the capital market, the equity capitalisation rose to N89.5 trillion from N89.6 trillion posted by the bourse on Monday.

The market breadth was negative with 23 stocks advancing, 27 stocks declining, and 97 stocks remaining unchanged in 25,386 deals.

Custodian Plc, Multiverse Mining and Exploration Plc, and E-Tranzact Nigeria led other gainers with 9.94%, 9.68%, and 9.45% growth in share price, respectively, to close at N44.80, N13.60, and N17.95 per share, up from the previous N40.75, N12.40, and N16.40 per share.

Austin Laz, Deap Capital, and FTN Cocoa led other price decliners with a 6.27%, 5.56% and 4.84% dip in share price to close at N2.69, N1.70, and N5.90 per share, down from the previous N2.87, N1.80, and N6.20 per share.


On the volume index, Guaranty Trust Holding Plc led trading with 32 million shares in 1, 021 deals, followed by Secure Electronic Technology, which traded 32 million shares in 225 deals.

United Bank for Africa Plc traded 26 million shares in 1,479 deals.

On the value index, Guaranty Trust Holding Plc traded stocks valued at N3.1 billion in 1,021 deals, followed by MTN Nigeria, which traded equities worth N1.6 billion in 1,177 deals.

Zenith Bank traded shares valued at N1.2 billion in 1,421 deals.

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