NGX: Equity markets ended the week in the red as investors lost N37 billion

Investors in the Nigerian equity market lost N37 billion at the close of trading on Friday.

This follows the fall in prices of shares such as CAVERTON, NNFM, and UPL, among others, on the stock exchange floor today.

After five hours of trading on the capital market, equity capitalization fell to N56.5 trillion from N56.6 trillion recorded by the exchange on Thursday.

The benchmark All-Share Index (ASI) fell to 98,458.68 from 98,523.56 points recorded the previous day.

The market breadth was negative as 21 stocks rose and 25 stocks weakened, while 72 stocks remained unchanged in 7,764 transactions.

BETAGLAS, MEYER and DEAPCAP (Deap Capital Management & Trust) led other gainers with share price growth of 10%, 9.93% and 9.90% respectively to close at N48.95, N7.75 and N1.11 from N44 previously .50, N7.05, and N1.01 per share.

On the other hand, CAVERTON, NNFM and UPL led another price decline as they fell 9.76%, 9.50% and 8.85% respectively to close at N2.68, N31.90 and N2.37 from initial N2.97, N35.25, and N2.60 per share respectively.

On the volume index, JAPAUL GOLD led trading with 591 million shares worth N1.4 billion in 194 transactions followed by UBA which traded 27 million shares worth N717 million in 451 transactions.

ZENITH BANK traded 11 million shares worth N442 million in 381 transactions.

On the value index, JAPAUL GOLD also recorded the highest value for daily trading of shares worth N1.4 billion in 194 transactions followed by OANDO which traded equities worth N771 million in 706 transactions.

SEPLAT traded shares worth N745 million in 191 transactions.

By: Babajide Okeowo

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