NGX: Equity markets start the week with losses as investors lose N117 billion

Investors in the Nigerian equity market started the trading week with a loss of N117 billion at the close of trading on Monday, July 29, 2024.

This follows the decline in share prices of stocks such as CAVERTON, WAPIC, and ABCTRANS among others on the trading floor.

After five hours of trading in the capital market, equity capitalization decreased to N55.717 trillion from N55.605 trillion by the exchange on FRIDAY, July 26, 2024.

The All Share Index (ASI) also fell to 98,132.15 from 98,201.49 recorded on the previous trading day.

The market breadth was positive as 22 stocks rose and 21 stocks fell, while 72 stocks remained unchanged in 10,096 trades.

AFRIPRUD, CUTIX and ETERNA led other gainers with share price growth of 10%, 9.90% and 9.88% respectively to close at N10.45, N5.66 and N17.80 from previous prices of N9.50, N5.15 and N16.20 per share.

ALSO READ: NGX WEEKLY SUMMARY: Investors lose N1.32 trillion as equity markets plunge

On the other hand, CAVERTON, WAPIC and ABCTRANS led the other price decliners as they fell by 10%, 9.30% and 9.09% respectively to close at N1.35, N0.78 and N0.70 from initial prices of N1.50, N0.86 and N0.77 per share.

On the volume index, UBA led the trading with 69 million shares worth N1.455 billion in 662 deals followed by FBNH which traded 24 million shares in 326 deals worth N512 million.

ACCESSCORP traded 23 million shares worth N441 million in 800 transactions.

On the value index, SEPLAT recorded the highest value for daily traded equities worth N2.710 billion in 102 transactions followed by UBA which traded equities worth N1.455 billion in 662 transactions.

GTCO traded shares worth N924 million in 649 transactions.

By: Babajide Okeowo

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