NGX: Equities Market Tumbles, Investors Shed ₦101bn

The equities market halted the bullish streak as investors lost N101bn at the end of trading on Wednesday.

This followed the dip in the share prices of stocks such as Jaiz Bank, Dangote Sugar, and Cap, among others, on the trading floor.

The benchmark All-Share Index (ASI) decreased to 196,463.22 points from the 196,621.96 points recorded on the previous trading day.

After five hours of trading at the capital market, the equity capitalisation decreased to N126 trillion from N126.1 trillion posted by the bourse on Tuesday.

The market breadth was negative, with 36 stocks advancing, 38 declining, and 73 remaining unchanged in 71,312 deals.

A total of 805,250,874 shares were traded, valued at N38.4 billion.

Premier Paints, FTG Insure, and UACN led the gainers’ chart, with 10%, 9.73% and 7.78% growth in share prices, respectively, to close at N12.10, N1.24, and N115.00 per share, up from N11.00, N1.13, and N106.70 per share.

Jaiz Bank, Dangote Sugar, and Cap led other price decliners with a 10%, 10% and 9.97% dip each in price to close at N10.80, N74.70, and N84.85 per share, down from the previous N12.00, N83.00, and N94.25 per share.

On the volume index, Veritas Kapital led trading with 56 million shares in 259 deals, followed by Jaiz Bank, which traded 51 million shares in 4,721 deals.

UnivInsure traded 48 million shares in 282 deals.

On the value index, MTN Nigeria traded stocks valued at N7 billion in 5, 476 deals, followed by Aradel, which traded equities worth N5.7 billion in 3,429 deals.

Zenith Bank traded shares valued at N4.3 billion in 2,866 deals.