NGX: Equity market starts week on bearish note as investors lose N92 billion

Nigerian equity market started the week on a bearish note as investors lost N92 billion by the end of the trading session.

This follows a decline in share prices such as CHAMS, UPL and OMATEK among others on the trading floor.

After five hours of trading in the capital market, equity capitalization declined to N55.405 trillion from N55.497 trillion recorded by the exchange on Friday, August 2, 2024.

The All Share Index (ASI) also fell to 97,582.41 from 97,745.73 recorded on the previous trading day.

Market breadth was negative as 23 stocks rose and 24 stocks fell, while 70 stocks remained unchanged in 9,738 trades.

PRESCO, INTERBREW and SOVRENINS led the other gainers with their share prices growing by 10% to close at N485.10, N4.62 and N0.61 respectively from previous prices of N441.00, N4.20 and N0.55 per share.

ALSO READ: NGX: Equity market closes week on a bullish note as investors rake in N219 billion

On the other hand, CHAMS, UPL and OMATEK led the other price decliners as they fell by 10%, 9.92% and 8.20% respectively to close at N1.98, N2.18 and N0.56 from initial prices of N2.20, N2.42 and N0.61 per share.

On the volume index, ZENITHBANK led the trade with 36 million shares worth N1.331 billion in 602 deals followed by UBA which traded 34 million shares in 584 deals worth N708 million.

VERITASKAP traded 25 million shares worth N233 million in 185 transactions.

On the value index, ZENITHBANK also recorded the highest value for daily traded shares worth N1.331 billion in 602 transactions followed by MTNN which traded equities worth N1.136 billion in 728 transactions.

UBA traded shares worth N708 million in 584 transactions.

By: Babajide Okeowo

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