NGX: Daar Communication among worst-hit stocks as investors lose N133 million

Investors in the Nigerian equity market lost N133 billion at the end of trading on Thursday.

This follows the decline in the prices of stocks such as DAARCOMM, UPDCREDIT, and GUINEAINS among others on the trading floor today.

After five hours of trading in the capital market, equity capitalization plunged to N56.6 trillion from N56.7 trillion posted by the exchange on Wednesday.

The All Share Index (ASI) rose to 100,065.68 from 100,299.48 recorded the previous day.

Market breadth was negative as 24 stocks rose and 25 stocks fell, while 72 stocks remained unchanged in 7,931 trades.

OANDO, CONOIL and VERITASKAP led other gainers with share price growth of 9.93%, 9.52% and 9.38 respectively to close at N15.5, N115 and N1.05 from N14.10, N105.64 and N0.96 per share previously.

ALSO READ: NGX: Investors end week with N374 billion profit

On the other hand, DAARCOMM, UPDCREDIT and GUINEAINS led the other price decliners as they fell by 8.33%, 8.26% and 7.69% respectively to close at N0.44, N5.00 and N0.36 from the initial prices of N0.48, N5.45 and N0.39 per share.

On the volume index, FIDELITY BANK led the trade with 539 million shares worth N5.6 billion in 467 deals followed by GTCO which traded 59 million shares worth N2.796 million in 508 deals.

VERITASKAP traded 40 million shares worth N41 million in 84 transactions.

On the value index, FIDELITY BANK recorded the highest value for daily traded equities worth N5.6 billion in 467 transactions followed by GTCO which traded equities worth N2.7 billion in 508 transactions.

ZENITH BANK traded shares worth N882 million in 585 deals.

By: Babajide Okeowo

NGX: Daar Communication among biggest losers as Investors lose N133 million first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.