NGX: Mcnichols, Ikeja Hotels leads the loser when the investor is shed by the N220BN

Investors in the Nigerian equity market lost the N220 billion at the close of trade on Monday.

This follows the decline in stock prices, Mcnichols PLC, Ikeja Hotels PLC, and FTN Cocoa, among others, on the trading floor.

The Benchmark All-Share Index (ASI) fell to 141,498.44 points from 141,845.34 points recorded on the previous day.

After five hours of trading in the capital market, the capitalization of equity fell to N89.5 trillion from N89.7 trillion posted by Bourse on Friday.

The extent of the negative market with 22 advanced shares, 28 shares declined, and the remaining 97 shares did not change in 28,621 agreements.

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Royal Exchange Assurance PLC, Secure Electronic Technology, and Chams PLC leads other returns with growth of 9.80%, 6.67% and 6.13% each in stock prices to be closed at N2.24, N0.80, and N3.29 from N2.04, N0.75, and N3.10 per previous share.

Mcnichols PLC, Ikeja Hotels PLC, and FTN Cocoa led other prices with 10% 9.80%, and 8.33% decline in stock prices to be closed on N3.33, N20.70, and N5.50 per share, down from N3.70, N22.95, and N6.00 per previous share.

In the volume index, Universal Insurance PLC led trade with 79 million shares in 184 agreements, followed by Zenith Bank PLC which was traded 58 million shares in 1,503 offers.

Nigerian Breweries PLC traded 32 million shares in 587 agreements.

In the value index, the Zenith Bank PLC shares traded worth N3.8 billion in 1, 503 agreement, followed by Nigerian Brewers PLC, who traded equity worth N2.4 billion in 587 agreements.

Guaranteed stock confidence traded worth N1.7 billion in 1, 168 agreement.

By: Babajide Okeowo