NGX: Bearish sentiment remains in the stock market because investors lose N367BN

The decline of the Nigerian equity market continued on Wednesday because investors lost N367 billion at the close of trading that day.

This follows a decrease in stock prices such as Learn Africa PLC, Daar Communications, and Internet Legend, among others, on the trading floor.

The Benchmark All-Share Index (ASI) crashed 138,157.16 points from 138,737.64 points recorded the previous day.

After five hours of trading in the capital market, the capitalization of equity fell to N87.4 trillion from N87.7 trillion posted by Bourse on Tuesday.

The extent of the negative market, with 14 advanced shares, 44 shares declined, and 89 remaining shares did not change in 28,193 agreements.

Secure Electronics Technologies, Consolidation Hallmark Holdings, and John Holt PLC led other recipients with a growth of 9.09%, 8.53%, and 7.94%, each, with prices closed on N0.96, N4.20, and N6.80 from N0.88, N3.87, and N6.30 per previous stock.

Learn Africa PLC, Daar Communications, and Internet Legend led other prices with a decrease in stock prices of 10% to be closed on N7.02, N0.90, and N4.77 from N7.80, N1.00, and N5.30 per previous share.

Also read: NGX: Investors lost N121BN because the bearish sentiment hit the stock market

In the volume index, the Access Holding PLC led trade with 43 million shares in 1,439 agreements, followed by Fidelity Bank PLC, which was traded by 40 million shares in 711 transactions.

Holding confidence guarantees are traded 34 million shares in 1,636 agreements.

In the value index, the shares traded by Aradel Holding worth N6.4 billion in 387 agreements, followed by Trust Holding guarantees, which are traded by equity worth N3.1 billion in 1,636 offers.

United Bank for Africa PLC traded shares worth N1.5 billion in 1,664 agreements.

Babajide Okeowo