NGX: Investors lose Rp117 billion as equity market slump continues

For the third straight day, investors in the Nigerian equity market lost N117 billion at the end of trading on Thursday.

This follows the fall in the prices of shares such as OMATEK, CUTIX, and FCMB, among others, on the trading floor today.

After five hours of trading in the capital market, equity capitalization dropped to N56.7 trillion from N56.8 trillion posted by the exchange on Wednesday.

The All Share Index (ASI) also fell to 100,156.96 from 100,365.17 recorded the previous day.

Market breadth was negative as 12 stocks rose and 25 stocks fell, while 81 stocks remained unchanged in 8,198 trades.

CUSTODIAN, LIVESTOCK and WAPIC led the gainers with share prices growing by 8.51%, 3.91% and 3.90% respectively to close at N9.40, N2.30 and N0.77 from N10.20, N2.39 and N0.80 per share previously.

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On the other hand, OMATEK, CUTIX and FCMB led the other price decliners as they fell by 10%, 9.51% and 8.75% respectively to close at N0.63, N5.33 and N7.30 from initial prices of N0.70, N5.89 and N8.00 per share.

On the volume index, FIDELITY BANK led the trade with 53 million shares worth N561 million in 293 deals followed by ZENITH BANK which traded 40 million shares worth N1.464 billion in 564 deals.

GTCO traded 27 million shares worth N1.20 billion in 460 transactions.

On the value index, ZENITH BANK recorded the highest value for daily traded shares worth N1.46 billion in 564 transactions followed by GTCO which traded equities worth N1.20 billion in 460 transactions.

UCAP traded shares worth N562 million in 539 transactions.

NGX: Investors lose N117 billion as equity market slump continues first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.