NGX: Investors lose N2.2tr as equity markets continue to decline

Investors in the Nigerian equity market lost another N2.28 trillion at the close of trading on Wednesday as bearish sentiment continued.

This follows a plunge in the prices of shares such as Wapco, Zichis, and Learn Africa, among others, on the stock exchange floor.

The benchmark All-Share Index (ASI) fell to 243,132.61 points from 246,686.66 points on the previous trading day.

After five hours of trading on the capital market, equity capitalization fell to N153.9 trillion from N158.2 trillion recorded by the exchange on Tuesday.

Market breadth was negative, with 15 stocks rising, 44 declining, and 83 stocks unchanged in 69,332 transactions.

A total of 922,968,493 shares were traded worth N42.2 billion.

Abbey Mortgage, Intenegins and Tripple G led the gainers chart, with share price growth of 9.93%, 9.89% and 9.80% respectively, closing at N7.75, N6.00 and N4.37 per share, up from N7.05, N5.46 and N3.98 per share.

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Wapco, Zichis and Learn Africa led the rest of the price declines, with declines of 9.97%, 9.82% and 9.80% respectively, closing at N307.90, N29.20 and N11.50 per share, down from N342.00, N32.38 and N12.75 per share respectively.

On the volume index, Sterling Bank led trading with 264 million shares in 434 transactions, followed by Access Holding Co, which traded 76 million shares in 2,644 transactions.

Linkage Assurance traded 55 million shares in 165 transactions.

On the value index, MTN Nigeria traded shares worth N12.2 billion in 6,524 transactions, followed by Zenith Bank, which traded equities worth N4 billion in 5,707 transactions.

Aradel traded shares worth N2.6 billion in 1,305 transactions.

Babajide Okeowo