The Nigerian equities market returned from the Eid-el-Fitr holiday with a N59 billion loss for investors at the close of trading on Wednesday.
This followed a dip in the share prices of stocks like UACN, UPL, and SUNU ASSURANCE, amongst others, on the trading floor.
After five hours of trading at the capital market, the equity capitalization crashed to ₦66.1 trillion from ₦66.2 trillion posted by the bourse on Friday.
The benchmark All-Share Index (ASI) decreased to 105,547.16 points from 105,641.15 points recorded last Friday.
The market breadth was negative as 25 stocks advanced and 32 stocks declined, while 65 stocks remained unchanged in 17,082 deals.
UPDCREIT, AFRICAN PRIDENTIAL INSURANCE, and VFDGROUP led other gainers with 10%, 9.96%, and 9.96% growth each in prices to close at N6.05, N14.35 and N51.90 from the previous N5.50, N13.05 and N51.90 per share.
UACN, UPL, and SUNU ASSURANCE led other price decliners with 10%, 9.95% and 9.92% dip in share prices to close at N31.95, N3.89 and N5.99 from the previous N35.50, N4.32 and N6.65 per share.
On the volume index, FIDELITY BANK led trading with 41 million shares in 716 deals, followed by MUTUAL BENEFIT, which traded 35 million shares in 272 deals.
NB traded 35 million shares in 148 deals.
On the value index, GTCO traded stocks worth N2.3 billion in 1,125 deals, followed by MTNN, which traded equities worth N1.4 billion in 634 deals.
ZENITH BANK traded shares valued at N1.3 billion in 1,195 deals.
By: Babajide Okeowo
© Ripples Nigeria
