NGX: Ecobank, an international beer factory among leading losers when investors were poured out by N81BN

The Bears continued to damage the Nigerian equity market on Wednesday, because investors lost ₦ 81 billion at the close of trading that day.

This follows the decline in stock prices from Ecobank Transnational Inc (ETI) shares, international Breweries and Ikeja Hotel PLC (Ikeja Hotel), among others, on the trading floor.

After five hours of trading in the capital market, the capitalization of equity fell to ₦ 66.4 trillion from ₦ 66.5 trillion posted by Bourse on Tuesday.

The Benchmark All-Share Index (ASI) decreased to 105,931.18 points from 106,116.18 points recorded the previous day.

The extent of the positive market because 38 shares advanced, 24 shares declined, and 62 shares remained unchanged in 17,519 offers.

Vitafoam Nigeria, University Press and Livestock Feed lead other growth with 10%, 10% and 9.97% growth in prices closed on N52.80, N3.74 and N8.49 from N48.00, N3.40 and N72 per previous share.

Also read: NGX: Investor loses N117BN in five hours

Ecobank Transnational Inc., International Breweries and Ikeja Hotel PLC led other prices with a price decline of 10%, 10% and 9.89% to be closed on N28.80, N7.05 and N0.59 from N8.55, N7.80 and N0.65 per previous share.

In the volume index, the United Bank for Africa (UBA) led trade with 38 million shares in 878 agreements, followed by Wema Bank PLC which was traded 26 million shares in 455 agreements.

Fidelity Bank PLC trades 25 million shares in 561 agreements.

In the value index, MTN Nigeria trades N3.6 billion in shares in 721 offers, followed by Uba, which is traded by equity worth N1.3 billion in 878 agreements.

Zenith Bank PLC traded shares worth N992 million in agreement 1, 015.

By: Babajide Okeowo

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