NGX: Equity markets plunge further, as investors lose N1.2tr

Investors in the Nigerian equity market lost N1.2 trillion at the close of trading on Friday.

This follows the fall in the prices of shares such as Zichis, FTN Cocoa, and TIP on the stock exchange floor.

The benchmark All-Share Index (ASI) fell to 250,330.92 points from 252,243.11 points the previous day.

After five hours of trading on the capital market, equity capitalization fell to N160.4 trillion from N161.6 trillion recorded by the exchange on Thursday.

Market breadth was positive, with 47 stocks advancing, 28 declining, and 73 stocks unchanged in 65,744 transactions.

A total of 1,084,111,815 shares were traded worth N44.2 billion.

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ABC Trans, May & Baker and Scoa led the gainers chart, with share price growth of 10%, 10% and 9.98% respectively, closing at N6.27, N47.30 and N33.05 per share, up from N5.70, N43.00 and N30.05 per share.

Zichis, FTN Cocoa and TIP led the rest of the price declines, with declines of 9.97%, 9.95% and 9.90% respectively, closing at N29.43, N8.96 and N32.30 per share, down from N32.69, N9.95 and N35.85 per share respectively.

On the volume index, UBA led trading with 61 million shares in 1,823 transactions, followed by First HoldCo which traded 58 million shares in 1,801 transactions.

Secure Electronics traded 51 million shares in 479 transactions.

On the value index, Aradel traded shares worth N9.4 billion in 3,049 transactions, followed by NGX Group, which traded equities worth N6.6 billion in 1,181 transactions.

First Holding Company traded shares worth N4.1 billion in 1,801 transactions.

Babajide Okeowo