NGX: Market capitalization falls by N3 billion amid bearish sentiment

Investors in the Nigerian equity market lost N3 billion at the close of trading on Thursday.

This follows the fall in the prices of shares such as John Holt, Abbey Building and Intenegins, among others, on the stock exchange floor.

The benchmark All-Share Index (ASI) fell to 201,698.89 points from 201,703.55 points recorded the previous day.

After five hours of trading on the capital market, equity capitalization fell to N129.806 trillion from N129.809 trillion recorded by the exchange on Wednesday.

Market breadth was positive, with 34 stocks advancing, 24 declining, and 90 stocks unchanged in 49,676 transactions.

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A total of 559,976,994 shares were traded worth N19.2 billion.

Unilever, FTG Insure and Multiverse led the gainers chart, with share price growth of 10%, 9.82% and 9.81% respectively, closing at N103.40, N1.23 and N20.15 per share, up from N94.00, N1.12 and N18.35 per share

John Holt, Abbey Building and Intenegins led other price declines with price drops of 9.91%, 9.60% and 6.48% respectively to close at N15.45, N8.95 and N3.32 per share, down from the previous N17.15, N9.90 and N3.32 per share.

On the volume index, Secure Electronics led trading with 59 million shares in 470 transactions, followed by Wema Bank which traded 51 million shares in 540 transactions.

VFD Group traded 36 million shares in 213 transactions.

On the value index, Zenith Bank traded shares worth N2.4 billion in 2,845 transactions, followed by GTCO, which traded equities worth N2.1 billion in 3,790 transactions.

MTN Nigeria traded shares worth N1.5 billion in 4,237 transactions.

Babajide Okeowo