NGX: Equity market plunges further as investors lose N107 billion

Investors in the Nigerian equity market lost N107 billion at the close of trading on Wednesday.

This follows the fall in the prices of shares such as Presco, UACN, and Morison, among others, on the stock exchange floor.

The benchmark All-Share Index (ASI) fell to 125,857.53 points from 196,066.11 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalization rose to N125.7 trillion from N125.8 trillion recorded by the exchange on Monday.

Market breadth was negative, with 29 stocks rising, 40 declining, and 69 stocks unchanged in 58,792 transactions.

A total of 671,273,135 shares were traded worth N26.1 billion.

NGX Group, Premier Paint and Omatek led the gainers chart, with share price growth of 10%, 9.92% and 8.95% respectively, closing at N186.45, N19.40 and N2.80 per share, up from N169.50, N17.65 and N2.57 per share.

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Presco, UACN and Morison led the rest of the price decline with price drops of 10%, 9.97% and 9.94% respectively to close at N2,083.90, N104.25 and N10.87 per share, down from the previous N2315.40, N115.80 and N12.07 per share.

On the volume index, Wema Bank led trading with 106 million shares in 774 transactions, followed by Access Bank Holding which traded 59 million shares in 1,916 transactions.

Mutual Benefit traded 38 million shares in 680 transactions.

On the value index, Wema Bank traded shares worth N2.7 billion in 774 transactions, followed by Aradel, which traded equities worth N2.0 billion in 1,751 transactions.

Dangote Cement traded shares worth N1.9 billion in 2,108 transactions.

Babajide Okeowo