NGX: Equity market starts week with N404 billion loss

Nigerian equity market started the week at its lowest on August 12, 2024 as investors lost N404 billion at the end of the trading session.

This follows the increase in stock prices such as BUACEMENT, SKYAVN and SUNUASSUR among others on the trading floor.

After five hours of trading in the capital market, equity capitalization declined to N55.574 trillion from N55.978 trillion recorded by the exchange on Friday, August 9, 2024.

The All Share Index (ASI) also fell to 97,881.75 from 98,592.12 recorded on the previous trading day.

Market breadth was positive as 28 stocks rose and 20 stocks fell, while 67 stocks remained unchanged in 9,059 trades.

JBERGER, NASCON and TOTAL led the other gainers with share prices rising by 10%, 10%, 9.98 respectively to close at N121.00, N34.65 and N470.40 from previous prices of N110.00, N31.50 and N427.70 per share.

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On the other hand, BUACEMENT, SKYAVN and SUNUASSUR led other price decliners as they dropped by 9.93%, 5.43% and 4.76% respectively to close at N114.30, N24.40 and N1.20 from initial prices of N126.90, N25,380 and N1.26 per share.

On the volume index, GTCO led the trade with 123 million shares worth N5.658 billion in 739 deals followed by VERITASKAP which traded 39 million shares in 174 deals worth N478 million.

ACCESSCORP traded 38 million shares worth N744 million in 628 transactions.

On the value index, GTCO recorded the highest value for daily traded shares worth N5.568 billion in 739 deals followed by ZENITH BANK which traded equities worth N1.031 billion in 558 deals.

OANDO traded shares worth N801 million in 372 transactions.

NGX: Equity market starts week with N404 billion loss first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.