NGX: N324 billion warehouse investor as insurance foundation of Cornerstone insurance losers

The Nigerian equity market yelled at Bullish trade on Wednesday because investors lost N324 at the close of trading that day.

This follows a decrease in stock prices such as Cornerstone Insurance PLC, RT Briscoe, and related bus companies, among others, on the trading floor.

The Benchmark All-Share Index (ASI) crashed 141,248.76 points from 141,761.36 points recorded the previous day.

After five hours of trading in the capital market, the capitalization of equity fell to N89.3 trillion from N89.6 trillion posted by Bourse on Tuesday.

The extent of the negative market with 17 advanced shares, 40 shares declined, and 80 shares remained unchanged in 28,695 agreements.

Deap Capital Management & Trust, Internet Legend, and Honeywell Flour PLC led other acquisitions with 4.82%, 4.63%, and price growth of 4.17%, respectively, closed on N1.74, N5.65, and N22.50 per share, up from N1.66, N5.40, and N21.60 per share in previous sessions.

Also read: NGX: Investors lost N121BN because the bearish sentiment hit the stock market

Cornerstone Insurance PLC, RT Briscoe, and related bus companies lead other prices with 10%, 10% and 9.80% of stock price reductions to N6.39, N3.06, and N4.51 from N7.10, N3.40, and N5.00 per previous share.

On the volume index, the First City Monument of Bank PLC (FCMB) led trade with 108 million shares in 540 agreements, followed by Sterling Bank PLC, who traded 86 million shares in 400 offers.

Cutix PLC trading 45 million shares in 623 offers.

In the value index, Aradel Holdings traded shares worth N4.0 billion in 370 agreements, followed by a septlat Petroleum Development Company, which trade equity worth N2.6 billion in 158 agreements.

Nestle Nigeria traded shares worth N1.2 billion in 116 agreements.

Babajide Okeowo