NGX: Bearish trend continues as investors lose N371 billion

Bearish sentiment in the Nigerian equity market continued on Tuesday, with investors losing N371 billion at the close of trading for the day.

This follows the decline in share prices of stocks such as BUA CEMENT, THOMASWY, and CHAMPION among others on the trading floor today.

After five hours of trading in the capital market, equity capitalization plunged to N55.03 trillion from N55.4 trillion recorded by the bourse on Monday.

The All Share Index (ASI) also fell to 96,928.52 from 97,582.41 recorded the previous day.

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Market breadth was positive as 29 stocks rose and 25 stocks fell, while 61 stocks remained unchanged in 9,381 trades.

NASCON, ACADEMY and OANDO led the other gainers with share price growth of 10%, 10% and 9.89% respectively to close at N32.45, N2.20 and N30.55 from N29.50,00, N2.00 and N27.80 per share previously.

On the other hand, BUA CEMENT, THOMASWY and CHAMPION led the other price decliners as they dropped by 9.99%, 8.52% and 7.97% respectively to close at N128.90, N1.61 and N2.77 from initial prices of N143.20, N1.76 and N3.01 per share.

On the volume index, UBA led the trading with 62 million shares worth N1.3 billion in 629 deals followed by OANDO which traded 36 million shares worth N1.1 billion in 730 deals.

VERITASKAP traded 33 million shares worth N288 million in 191 transactions.

On the value index, UBA also recorded the highest value for daily traded equities worth N1.3 billion in 629 transactions followed by OANDO which traded equities worth N1.1 billion in 730 transactions.

ZENITH BANK traded shares worth N790 million in 510 deals.

By: Babajide Okeowo

NGX: Bearish trend continues as investors lose N371 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.