NGX: Equities Market declined because investors lost N274 billion in five hours

Nigeria’s equity market continued its decline because investors lost the N274 billion at the close of trade on Thursday.

This follows a decrease in stock prices such as May & Baker Nigeria, Chellarams PLC and relationship guarantees, among others, on the trading floor.

The All-Share Index benchmark (ASI dropped to 109,183.02 points from 109,619 0 points recorded on the previous day.

After five hours of trading in the capital market, the capitalization of equity declined to N68.6 trillion from N68.8 trillion posted by Bourse on Wednesday.

The extent of the positive market because 34 shares advanced, 22 shares declined, and 63 shares remained unchanged in 26,176 agreements.

Real Estate Union Homes Investment, Red Star Express PLC and RT Briscoe led other strengthening with growth of 9.97%, 9.91% and 9.57% respectively in prices closed at N50.75, N6.10 and N2.29 from the previous N46.15, N5.55 and N2.09 per share.

May & Baker Nigeria, ChellaraMs PLC, and Assurance Linkage led other price rejections with 9.96%, 9.96% and 9.88% of stock price declines to be closed on N11.75, N11.75 and N1.46 from shares of N13.05, N13.05 and N1.62.

In the volume index, Fidelity Bank PLC led trade with 137 million shares in 2,169 offers, followed by the Japaul Gold and Ventures PLC which was traded 81 million shares in 168 agreements.

United Bank of Africa (UBA) trading 60 million shares in 1,350 offers.

In the value index, Fidelity Bank PLC traded shares worth N2.4 billion in 2, 169 agreement, followed by MTN Nigeria (MTNN) who traded equity worth N2.3 billion in 970 agreements.

United Bank of Africa (UBA) traded shares worth N2 billion in 1, 350 agreement.

By: Babajide Okeowo

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