NGX: Bearish trend remains in the equity market because investors are shed by N31BN

Investors in the Nigerian equity market lost N31 billion at the close of trade on Thursday.

This follows a decrease in stock prices such as John Holt, Chams, and NSLTech, among others, on the trading floor.

After five hours of trading in the capital market, the capitalization of equity fell to ₦ 66.11 trillion from ₦ 66.14 trillion posted by Bourse on Wednesday.

The Benchmark All-Share Index (ASI) decreased to 105,426.12 points from 105,475.38 points recorded the previous day.

The extent of the negative market because 21 shares advanced and 28 shares declined, while 72 shares remained unchanged in 11,393 agreements.

M Benefits, Universal Insurance, and Royalex Lead other reinforcement with growth of 9.09%, 9.88%, and 8.99%each in prices closed at N0.96, N0.60 and N0.97 from N0.88, N0,55 and N0.89 per previous share.

Also read: NGX: Recovery of Short -Live Stock Market because investors lose N199BN

John Holt, Chams, and NSLTech led other prices with a price decline in 10%, 8.52% and 8.47% to be closed on N7.74, N2.04 and N0.54 from N8.60, N2.23 and N0.59 per previous share.

On the volume index, Access Corp led trade with 64 million shares in 770 agreements followed by Zenith Bank traded 41 million shares in 1,085 offers.

Fidelity Bank trades 40 million shares in 557 agreements.

In the value index, Zenith Bank traded shares worth N1.9 billion in 1,085 agreements followed by access corp traded equity of N1.4 billion in 770 agreements.

MTNN traded shares worth N985 million in 641 agreements.

By: Babajide Okeowo

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