NGX: Equity market slumps as investors lose N888 billion

Investors in the Nigerian equity market lost N888 billion at the close of trading on Tuesday.

This follows the fall in the prices of shares including Dangote Sugar, Trans Power and TIP on the stock exchange floor.

The benchmark All-Share Index (ASI) fell to 249,738.84 points from 251,125.02 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization fell to N160 trillion from N160.9 trillion recorded by the exchange on Monday.

Market breadth was positive, with 35 stocks rising, 31 declining, and 82 stocks unchanged in 65,666 transactions.

A total of 564,066,148 shares were traded worth N27.2 billion.

Austin Laz, Mc Nichols and Intenegins led the gainers chart, with share price growth of 10%, 10% and 9.89% respectively, closing at N4.40, N7.92 and N4.11 per share, up from N4.00, N7.20 and N3.74 per share.

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Dangote Sugar, Trans Power and TIP led the rest of the price declines, with falls of 10%, 9.97% and 9.85% respectively, closing at N78.30, N245.50 and N27.45 per share, down from N87.00, N272.70 and N30.45 per share respectively.

On the volume index, Access Holding Co led trading with 80 million shares in 3,105 transactions, followed by Zenith Bank, which traded 33 million shares in 3,807 transactions.

Mutual Benefit traded 31 million shares in 494 transactions.

On the value index, Zenith Bank traded shares worth N4.4 billion in 3,807 transactions, followed by Aradel, which traded equities worth N4.2 billion in 2,281 transactions.

MTN Nigeria traded shares worth N2.8 billion in 4,949 transactions.

Babajide Okeowo