NGX: Equity market continues bearish trend as investors lose N64 billion

The equity market continued its bearish sentiment on Thursday as investors lost N64 billion at the close of trading for the day.

This follows the decline in share prices of shares such as TRANSCOHOT, CHAMS and ETERNA among others on the trading floor.

After five hours of trading in the capital market, equity capitalization plunged to N54.9 trillion from N55.04 trillion recorded by the bourse on Wednesday.

The All Share Index (ASI) also fell to 95,718.05 from 95,831.51 recorded the previous day.

Market breadth was positive as 22 stocks advanced and 17 stocks declined, while 77 stocks remained unchanged at 8,813.

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SFSREIT, ACADEMY and OANDO led the other gainers with share price growth of 10%, 10% and 9.99% respectively to close at N122.65, N2.75 and N43.50 from N111.50, N2.50 and N39.55 per share previously.

On the other hand, TRANSCOHOT, CHAMS and ETERNA led the other price decliners as they fell by 10%, 9.72% and 9.55% respectively to close at N90.00, N1.95 and N19.90 from opening prices of N100.00, N2.16 and N22.00 per share.

On the volume index, UNIVINSURE led the trade with 68 million shares worth N211 million in 95 deals followed by CHAMS which traded 33 million shares worth N67 million in 155 deals.

OANDO traded 29 million shares worth N129 million in 1,019 transactions.

On the value index, OANDO recorded the highest value for daily traded equities worth N1.29 billion in 1,019 deals followed by SEPLAT which traded equities worth N974 million in 100 deals.

Stanbic traded shares worth N468 million in 51 transactions.

NGX: Equity market continues downward trend as investors lose N64 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.