NGX: Oando, ABCTRANS, others drag equity market down as investors lose N84 billion

For the fourth straight day this week, the downward trend in the Nigerian equity market continued on Thursday as investors lost N84 billion at the close of trading.

This follows a decline in share prices such as OANDO, ABCTRANS, and GUINEAINS among others on the trading floor.

After five hours of trading in the capital market, equity capitalization declined to N55.1 trillion from N55.2 trillion recorded by the bourse on Wednesday.

The All Share Index (ASI) also fell to 97,100.36 from 97,248.82 recorded the previous day.

Market breadth was negative as 14 stocks rose and 31 stocks fell, while 67 stocks remained unchanged in 7,233 trades.

NEIMETH, TOTAL and AIICO led the other gainers with increases of 9.55%, 8.82% and 6.54% respectively in share prices to close at N2.18, N511.90 and N1.14 from N1.99, N470.40 and N1.07 per share respectively.

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On the other hand, OANDO, ABCTRANS and GUINEAINS led the other price decliners as they fell by 9.94%, 9.52% and 9.09% respectively to close at N32.60, N0.76 and N0.40 from the initial prices of N36.20, N0.84 and N0.44 per share.

On the volume index, VERITASKAP led the trade with 33 million shares worth N47 million in 135 deals followed by STERLINGNG which traded 16 million shares worth N65 million in 62 deals.

AIICO traded 16 million shares worth N18 million in 104 transactions.

On the value index, GTCO recorded the highest value for daily traded equities worth N725 million in 310 transactions followed by OANDO which traded equities worth N406 million in 460 transactions.

ZENITH BANK traded shares worth N370 million in 358 deals.

By: Babajide Okeowo

NGX: Oando, ABCTRANS and others drag equity markets down as investors lose N84 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.