NGX: Equity capitalization. further decline due to investors lost N135BN

Investors in the Nigerian equity market lost the N135 billion at the close of trade on Wednesday.

This follows a decrease in stock prices such as Deap Capital Management & Trust, Legend Internet, and Wapic Insurance, among others, on the trading floor.

The Benchmark All-Share Index (ASI) fell to 140,716.10 points from 140,929.60 points recorded on the previous day.

After five hours of trading in the capital market, the capitalization of equity fell to N89 trillion from N89.1 trillion posted by Bourse on Tuesday.

The extent of the negative market with 23 advanced shares, 29 shares declined, and the remaining 95 shares did not change in 21,684 agreements.

Dangote sugar, the mecure industry, and electronic technology that secures leads other strengthening with 10%, 9.95% and 8.00% growth in the stock price to be closed at N59.40, N23.75, and N0.81 from N54.00, N21.60, and N0.75 per previous share.

Deap Capital Management & Trust, Internet Legend, and Wapic Insurance led other price determination with 9.42% 9.26%, and 8.75% stock price reduction was closed at N1.73, N4.90, and N2.92 per share, down from N1.91 previously, N5.40, and N3.20 per share.

In the volume index, Zenith Bank PLC led trading with 68 million shares in 1,445 offers, followed by access holding PLC, which was traded 47 million shares in 1,308 offers.

First Bank Holding Co trades 46 million shares in 370 agreements.

Also read: NGX: Bearish sentiment remains in the stock market because investors lose N367BN

In the value index, Zenith Bank PLC trades shares worth N4.7 billion in 1, 445 agreement, followed by MTN Nigeria, who trade equity worth N2.1 billion in 1,094 agreements.

Guaranteed stock confidence traded worth N2.0 billion in 1,078 agreements.

Babajide Okeowo