NGX: Investors lost N29 billion in five hours

Investors in the Nigerian equity market lost N29 billion at the close of trading on Friday.

This follows the fall in the prices of shares such as Legend Internet, Zichis and MC Nichols, among others, on the stock exchange floor.

The benchmark All-Share Index (ASI) fell to 200,913.06 point of 200,957.89 points recorded on the previous day.

After five hours of trading on the capital market, equity capitalization fell to N128.9 trillion from N128.9 trillion recorded by the exchange on Thursday.

Market breadth was negative, with 33 stocks advancing, 36 declining, and 79 unchanged in 43,440 transactions.

As much 595.153.063 shares traded, valued at N24.4 billion.

Premier Paints, Zichis and MC Nichols led the gainers chart, with share price growth of 9.97%, 9.97% and 9.93% respectively, closing at N37.50, N13.79 and N7.42 per share, up from N34.10, N12.54 and N6.75 per share.

E-Tranzact, Abbey Buildings and Cadbury led other price decliners with price drops of 10% each to close at N20.70, N9.90 and N63.00 per share, down from the previous N23.00, N11.00 and N70.00 per share.

On the volume index, Wema Bank led trading with 131 million shares in 524 transactions, followed by Legend Internet which traded 41 million shares in 624 transactions.

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Zichis traded 35 million shares in 412 transactions.

On the value index, Wema Bank traded shares worth N3.4 billion in 524 transactions, followed by Aradel, which traded equities worth N2.7 billion in 1,068 transactions.

MTN Nigeria traded shares worth N2.7 billion in 3,891 transactions.

Babajide Okeowo