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The Nigerian equity market has rebounded after the Independence Day holiday with a loss of N187.6 billion for investors at the close of trading on Wednesday.
This follows the decline in share prices such as INTBREW (International Breweries) MEYER (Meyer Plc formerly DN Meyer) and VERITASKAP (Veritas Kapital Assurance Plc) on the stock exchange floor today.
After five hours of trading on the capital market, equity capitalization fell to N56.4 trillion from N56.6 trillion recorded by the exchange on Monday.
The benchmark All-Share Index (ASI) fell to 98,232.39 from 98,523.56 recorded the previous day.
Market breadth was negative as 24 stocks advanced and 31 stocks weakened, while 63 stocks remained unchanged in 11,954 transactions.
INTERNATIONAL BREWERIES, MEYER and VERITASKAP led other gainers with share price growth of 9.98%, 9.94% and 9.93% respectively to close at N4.41, N8.52 and N1.66 from previous N4.01, N7. 75 , and N1.51 per share.
On the other hand, ELLAHLAKES (Ellah Lakes Plc), CAVERTON (Caverton Offshore Support Group) and ABCTRANS (Associated Bus Company) led the rest of the price declines as they fell 9.93%, 9.92%, and 9.57% respectively and closed at N3.99, N2.18 and N1.04 from an initial N4.43, N2.42 and N1.15 per share.
On the volume index, UBA led trading with 108 million shares worth N3 billion in 2,013 transactions followed by ZENITH BANK which traded 35 million shares worth N1.3 billion in 468 transactions.
VERITASKAP traded 30 million shares worth N49 million in 214 transactions.
On the value index, UBA recorded the highest daily trading value of shares worth N3 billion in 2,013 transactions followed by ZENITH BANK which traded equities worth N1.3 billion in 468 transactions.
OANDO traded shares worth N934 million in 892 transactions.
By: Babajide Okeowo
The post NGX: Ellah Lakes, Caverton among biggest losers as investors lose N187.6 billion in five hours appeared first on Latest Nigeria News | Top News from Ripples Nigeria.
