NGX: The equity market has fallen further because investors lose the N713BN in five hours

The Nigerian equity market fell further on Wednesday because investors lost the N713 billion at the close of trading that day.

This follows the decline in the stock price of Guinness Nigeria PLC, CONOIL PLC, and Consolidation of PLC Hallmarks, among others, on the trading floor.

The Benchmark All-Share Index (ASI) decreased to 141,566.30 points from 142,613.47 points recorded on the previous day.

After five hours of trading in the capital market, the capitalization of equity fell to N89.5 trillion from N90.2 trillion posted by Bourse on Tuesday.

The extent of the negative market, with 18 advanced shares, 51 shares declined, and the remaining 87 shares did not change in 28,745 agreements.

Austin Laz & Company, Champions Brewers, and NCR Nigeria lead other strengthening with 10%, 9.97% and 9.97% growth in prices closed on N2.64, N19.74, and N9.55 from N2.40, N17.95, and N8.70 per previous share.

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

Guinness Nigeria PLC, CONOIL PLC, and PLC Consolidation Hallmarks led other price declines with 9.98%, 9.98% and 9.94% decline in stock prices to be closed in N140.20, N211.10, and N4.35 from N155.75 Previously, N234.50, and N4.83 per share.

In the volume index, Champions Breweries led trade with 54 million shares in 448 agreements, followed by Universal Insurance PLC, which was traded 47 million shares in 404 agreements.

Royal Exchange Assurance PLC trades 46 million shares in 183 agreements.

In the value index, the Zenith Bank PLC shares were traded worth N1.2 billion in 1,320 agreements, followed by MTN Nigeria, who traded equity worth N1.2 billion in 1,083 agreements.

Breweries Champions traded shares worth N988 million in 1, 263 agreements.

Babajide Okeowo