NGX: Briscoe, Tantalizer, others drag equity market down as investors lose N24 billion

Investors in the Nigerian equity market lost N24 billion at the close of trading on Wednesday.

This follows the decline in share prices of RT BRISCOE, FTN COCOA, and TANTALIZER, among others, on the trading floor today.

After five hours of trading in the capital market, equity capitalization plunged to N56.64 trillion from N56.67 trillion posted by the exchange on Tuesday.

The All Share Index (ASI) fell to 100,032.32 from 100,075.59 recorded the previous day.

The market breadth was positive as 28 stocks rose and 14 stocks fell, while 72 stocks remained unchanged in 8,720 trades.

UCAP, AFRIPRUD and CUTIX led the other gainers with share price growth of 10%, 9.88% and 9.86% respectively to close at N36.30, N8.90 and N6.13 from N33.00, N8.10 and N6.13 per share previously.

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On the other hand, RT BRISCOE, FTN COCOA, and TANTALIZER led other price decliners as they fell by 5.71%, 4.44%, and 4.26% respectively to close at N0.66, N1.72, and N0.45 from initial prices of N0.70, N1.80, and N0.47 per share.

On the volume index, JAIZ BANK led the trade with 528 million shares worth N1.14 billion in 240 deals followed by CUTIX which traded 194 million shares worth N1.19 billion in 72 deals.

ZENITH BANK traded 77 million shares worth N3.10 billion in 650 deals.

On the value index, ZENITH BANK recorded the highest value for daily traded equities worth N3.10 billion in 650 deals followed by CUTIX which traded equities worth N1.19 billion in 72 deals.

JAIZ BANK traded shares worth N1.14 billion in 240 deals.

By: Babajide Okeowo

NGX: Briscoe, Tantalizer and others drag equity markets as investors lose N24 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.