NGX: Bearish trend continues as investors lose N278 billion

The downward trend in the Nigerian equity market continued on Tuesday as investors lost N278 billion at the close of trading.

This follows a decline in the share prices of the likes of Oando, Livestock Feeds and Cornerstone 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 Monday.

The All Share Index (ASI) also fell to 97,390.01 from 97,881.75 recorded the previous day.

Market breadth was negative as 24 stocks rose and 29 stocks fell, while 64 stocks remained unchanged in 11,237 trades.

ALSO READ: NGX: Investors start week with N51 billion loss as stocks plunge

NEIMETH, CHAMPION and UPL led other gainers with share prices rising by 9.90%, 9.75%, 9.63% respectively to close at N2.11, N3.04 and N2.39 from N1.92, N2.77 and N2.18 per share previously.

On the other hand, OANDO, LIVESTOCK FEEDS and CORNERSTONE led the other price decliners as they dropped by 9.97%, 8.10% and 7.66% respectively to close at N40.20, N2.27 and N2.17 from initial prices of N44.65, N2.47 and N2.35 per share.

On the volume index, GTCO led the trade with 71 million shares worth N3.2 billion in 445 deals followed by JAPAUL GOLD which traded 69 million shares worth N156 million in 189 deals.

ACCESS CORP traded 66 million shares worth N1.28 billion in 651 deals.

On the value index, GTCO recorded the highest value for daily traded shares worth N3.2 billion in 445 transactions followed by NESTLE which traded equities worth N2.4 billion in 73 transactions.

OANDO traded shares worth N1.8 billion in 1,640 transactions.

NGX: Bearish trend continues as investors lose N278 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.