Equities Market Slumps As Investors Lose N36bn

The yo-yo movement of the Nigerian equities market continued on Thursday, December 5, 2024, as investors lost N36bn at the end of the trading session on the floor of the Nigerian Exchange Group (NGX).

This was a result of the dip in the share prices of stocks like REDSTAREX, FTNCOCOA, and NPFMCRFBK (NPF Microfinance Bank) amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization fell to N59.475 trillion from N59.512 trillion that was recorded by the bourse on Wednesday.

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The benchmark All-Share Index (ASI) decreased to 98,114.11 from 98,174.99 recorded the previous trading day.

The market breadth was positive as 35 stocks advanced and 16 stocks declined, while 72 stocks remained unchanged in 8,495 deals.

UPL, CORNERST, and STERLINGNG led other gainers with 10%, 10% and 9.98% growth each in share prices to close at N3.96, N3.30, and N4.85 from the previous N3.60, N3.00 and N4.41 per share.

REDSTAREX, FTNCOCOA, and NPFMCRFBK led other price decliners with 10%, 5.61%, and 3.21% decline each in share prices to close at N4.41, N1.85, and N1.50 from the previous N4.90, N1.96 and N1.55 per share.

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On the volume index, CHAMPION led trading with 300 million shares in 28 deals followed by FIDELITYBK which traded 48 million shares in 275 deals.

GTCO traded 40 million shares in 201 deals.

On the value index, GTCO topped as the securities traded stock worth N2.1 billion in 201 deals followed by WAPCO which traded equities worth N2 billion in 811 deals.

MTNN traded shares valued at N1.9 billion in 298 deals.