Investors lost N906 billion as equity markets plunged

Investors in the Nigerian equity market lost N906 billion at the close of trading on Tuesday.

This follows the fall in the prices of shares such as Guinness, Union Dicon and Aiico, among others, on the stock exchange floor.

The benchmark All-Share Index (ASI) fell to 241,750.15 points from 243,158.97 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization fell to N155.1 trillion from N156 trillion recorded by the exchange on Monday.

Market breadth was positive, with 46 stocks advancing, 26 declining, and 76 unchanged in 102,665 transactions.

A total of 1,268,252,598 shares were traded worth N75.2 billion.

MC Nichols, RT Briscoe and Zichis led the gainers chart, with share price growth of 10% each, closing at N7.92, N12.87 and N25.08 per share, up from N7.20, N11.70 and N22.80 per share.

Guinness, Union Dicon and Aiico led other price declines, with falls of 10.00%, 9.82% and 9.28% respectively, closing at N447.30, N19.75 and N4.30 per share, down from N497.00, N21.90 and N4.74 per share respectively.

On the volume index, FCMB led trading with 160 million shares in 1,027 transactions, followed by GTCO which traded 94 million shares in 5,884 transactions.

Access Holding traded 81 million shares in 4,201 transactions.

On the value index, GTCO traded shares worth N13 billion in 5,884 transactions, followed by MTN Nigeria, which traded equities worth N10.7 billion in 11,500 transactions.

By Babajide Okeowo

Zenith Bank traded shares worth N8 billion in 6,591 transactions.