NGX: Oando, RT Briscoe join list of top losers as investors lose N193 billion

Investors in the Nigerian equity market lost N193 billion at the close of trading on Wednesday.

This follows a decline in the prices of shares such as Oando, RT Briscoe and NSL Tech among others on the trading floor.

After five hours of trading in the capital market, equity capitalization dropped to N55.4 trillion from N55.6 trillion recorded by the bourse on Tuesday.

The Composite Stock Price Index (IHSG) also fell to 96,537.48 from 96,873.74.

Market breadth was negative as 21 stocks rose and 31 stocks fell, while 63 stocks remained unchanged in 12,039 trades.

Daar Communication, IMG and Deapcap led other gainers with share price growth of 10%, 9.72% and 9.52% respectively to close at N0.66, N35.00 and N1.15 from N0.60, N31.90 and N1.05 per share previously.

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On the other hand, Oando, RT Briscoe and NSL Tech led the other price decliners as they fell by 10%, 9.72% and 9.23% respectively to close at N81.90, N2.60 and N0.59 from initial prices of N91.00, N2.88 and N0.65 per share.

On the volume index, Oando led the trade with 37 million shares worth N3.09 billion in 2,727 deals followed by Universal Insurance which traded 33 million shares worth N4.31 billion in 135 deals.

Transcorp traded 29 million shares worth N321 million in 335 deals.

On the value index, Oando recorded the highest value for daily traded equities worth N3.09 billion in 2,727 transactions followed by GTCO which traded equities worth N1 billion in 277 transactions.

Zenith Bank traded shares worth N411 million in 529 deals.

By: Babajide Okeowo

NGX: Oando, RT Briscoe among biggest losers as investors lose N193 billion first appeared on Latest Nigeria News | Top Stories from Ripples Nigeria.