NGX: #EndBadGovernance protests impact equity markets as investors lose N235 billion

Nigerian equity markets felt the impact of the #EndBadGovernance protests on Thursday as investors lost N235 billion at the close of trading that day.

This follows a decline in the prices of stocks such as MECURE, THOMASWY, and WAPIC, among others, on the trading floor.

After five hours of trading in the capital market, equity capitalization plunged to N55.2 trillion from N55.5 trillion recorded by the bourse on Wednesday.

The All Share Index (ASI) also fell to 97,359.76 from 97,774.22 recorded the previous day.

Market breadth was negative as 22 stocks rose and 19 stocks fell, while 66 stocks remained unchanged in 6,821 trades.

UCAP, CUTIX and AFRIPRUD led the other gainers with share price growth of 9.95%, 9.94% and 9.94% respectively to close at N11.05, N5.64 and N9.40 from N10.05, N5.13 and N8.55 per share previously.

On the other hand, MECURE, THOMASWY and WAPIC led other price decliners as they fell by 9.94%, 9.74% and 8.24% respectively to close at N8.15, N1.76 and N0.78 from initial prices of N9.05, N1.95 and N0.85 per share.

On the volume index, ZENITH BANK led the trading with 19 million shares worth N651 million in 470 deals followed by OANDO which traded 19 million shares worth N445 million in 697 deals.

ACCESS CORP traded 15 million shares worth N289 million in 554 transactions.

On the value index, ZENITH BANK recorded the highest value for daily traded shares worth N651 million in 470 transactions followed by GUINNESS which traded equities worth N576 million in 33 transactions.

UBA traded shares worth N458 million in 504 transactions.

By: Babajide Okeowo

NGX: #EndBadGovernance protests impact equity markets as investors lose N235 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.