NGX: Equities Market Dips As Investors Lose N127bn

The bearish sentiment persisted in the Nigerian equities market on Thursday, October 17, 2024, as investors lost N127.34 billion at the end of trading on the floor of the Nigerian Exchange Group (NGX).This followed a dip in the share prices of stocks like ARADEL, REGALINS and DAARCOMM amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization dipped to N59.431 trillion from N59.559 trillion recorded by the bourse yesterday.

The benchmark All-Share Index (ASI) also decreased to 98,081.38 from 98,291.53 recorded the previous trading day.

The market breadth was positive as 29 stocks advanced and 15 stocks declined, while 71 stocks remained unchanged in 7,318 deals.

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GOLDBREW, DEAPCAP and TRANSPOWER led other gainers with 10%, 9.85%, and 9.68% growth each in share prices to close at N3.74, N1.45, and N330.90 from the previous N3.40, N1.32 and N301.70 per share.

On the flip side, CUSTODIAN, OKOMUOIL and CONHALLPLC led other price decliners as they shed 10%, 8.82%, and 6.78% each to close at N694.80, N0.62 and N0.55 from the initial N772.00, N0.68, and N0.59 per share.

On the volume index, STERLINGNG led trading with 42 million shares in 283 deals followed by ZENITH BANK which traded 20 million shares in 317 deals.

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GTCO traded 19 million shares in 375 deals.

On the value index, ARADEL for the third day running came out top trading stock worth N1bn in 584 deals followed by GTCO which traded equities worth N1bn in 375 deals.

ZENITHBANK traded shares valued at N751 million in 317 deals.