NGX: Equity markets relapse as investors lose N1.6tr

Investors in the Nigerian equity market lost N1.6 trillion at the close of trading on Wednesday, and are in for another round of losses.

This follows the fall in the prices of shares such as Bua Cement, Cap and E-Tranzact on the stock exchange floor.

The benchmark All-Share Index (ASI) fell to 249,062.37 points from 251,635.42 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization saw an increase to N159.6 trillion from N161.2 trillion recorded by the exchange on Tuesday.

Market breadth was negative, with 41 stocks rising, 25 declining, and 82 stocks unchanged in 58,958 transactions.

A total of 600,223,782 shares were traded worth N32.7 billion.

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Zichis, ABC Transport and Japaul Gold led the gainers chart, with share price growth of 9.99%, 9.99% and 9.95% respectively, closing at N32.04, N8.26 and N4.09 per share, up from N29.13, N7.51 and N3.72 per share.

Bua Cement, Cap and E-Tranzact led the rest of the price declines, with falls of 10%, 9.99% and 7.03% respectively, closing at N414.00, N210.35 and N17.20 per share, down from N460.00, N233.70 and N18.50 per share respectively.

On the volume index, Access Holding Co led trading with 55 million shares in 2,479 transactions, followed by Japaul Gold which traded 49 million shares in 905 transactions.

Zenith Bank traded 36 million shares in 3,279 transactions.

On the value index, Zenith Bank traded shares worth N4.8 billion in 3,275 transactions, followed by Aradel, which traded equities worth N3.7 billion in 1,854 transactions.

MTNN traded shares worth N2.9 billion in 4,391 transactions.

Babajide Okeowo