NGX: Equity market halts bullish run as investors lose N900 billion

Investors in the Nigerian equity market lost N900 billion at the end of trading on Wednesday.

This follows the fall in the prices of shares such as Red Star Express, Aradel and Presco on the stock exchange floor.

The benchmark All-Share Index (ASI) fell to 201,156.85 points from 202,559.41 points recorded on the previous trading day.

After five hours of trading on the capital market, equity capitalization fell to N129.1 trillion from N130.05 trillion recorded by the exchange on Tuesday.

Market breadth was negative, with 31 stocks advancing, 38 declining, and 78 unchanged in 58,562 transactions.

A total of 6,061,256,239 shares were traded worth N130 billion.

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Secure Electronics, Guinness and John Holt led the gainers chart, with share price growth of 10%, 9.92% and 9.72% respectively, closing at N1.32, N423.20 and N11.85 per share, up from N1.20, N385.00 and N10.80 per share.

Red Star Express, Aradel and Presco led the rest of the price declines with price drops of 9.98%, 9.68% and 9.30% respectively to close at N25.70, N1,210.30 and N1,701.10 per share, down from the previous N28.55, N1,340.00 and N1,875.60 per share.

On the volume index, E-Tranzact led trading with 5.17 billion shares in 253 transactions, followed by Wema Bank which traded 111 million shares in 742 transactions.

Wapic traded 96 million shares in 105 transactions.

On the value index, Dangote Cement traded shares worth N56.4 billion in 2,569 transactions, followed by E-Tranzact, which traded equities worth N24.2 billion in 253 transactions.

MTN Nigeria traded shares worth N6.9 billion in 5,609 transactions.

Babajide Okeowo