The bearish trading in the Nigerian equities market continued on Tuesday as investors lost ₦344.96 billion at the close of the day’s business.
This followed the dip in the share prices of stocks like GUINEA INSURANCE, DANGOTE SUGAR, and DEAPCAP amongst others on the trading floor.
After five hours of trading at the capital market, the equity capitalization crashed to ₦66.9 trillion from ₦67.2 trillion posted by the bourse on Monday.
The benchmark All-Share Index (ASI) dropped to 106,904.25 points from 107,455.13 points recorded the previous day.
The market breadth was negative as 17 stocks advanced and 43 stocks declined, while 63 stocks remained unchanged in 13,967 deals.
UHOMREIT, NEM, IKEJA HOTEL led other gainers with 9.94%, 8.78% and 8.72% growth each in prices to close at N48.65, N14.25 and N11.85 from the previous N44.25, N13.10 and N10.90 per share.
GUINEA INSURANCE, DANGOTE SUGAR, and DEAPCAP led other price decliners with 10% dip each in share prices to close at N0.63, N36,00 and N0.90 from the previous N0.70, N40.00 and N1.00 per share.
On the volume index, UCAP led trading with 40 million shares in 825 deals followed by ELLAH LAKES which traded 26 million shares in 270 deals.
ZENITH BANK traded 25 million shares in 785 deals.
On the value index, ZENITH BANK traded stocks worth N1.2 billion in 785 deals followed by GTCO which traded equities worth N818 million in 301 deals.
ARADEL traded shares valued at N732 million in 825 deals.
By:Babajide Okeowo
Source: Ripples