NGX: The equity market snapped bullish running because investors lost N54BN

The Nigerian equity market yelled at the Bullish series this week with N54 billion losses for investors at the close of trading on Thursday.

This follows a decrease in stock prices such as the Legend of the Internet, Seplat PLC and Abbey Mortgage Bank PLC, among others, on the trading floor.

The Benchmark All-Share Index (ASI) decreased to 111,818.08 points from 111,902.61 points recorded on the previous day.

After five hours of trading in the capital market, the capitalization of equity fell to N 70.51 trillion from N70. 56 trillion posted by Bourse on Wednesday.

The extent of the positive market because 39 shares advanced, 28 shares declined, and 61 shares remained unchanged in 18,505 agreements.

Mutual benefits of PLC, University Press (UPL), and Academy PLC leads other strengthening with 10%, 9.98% and 9.88% growth in prices to be closed at N1.10, N6.17 and N4.45 from N1.00, N5.61 and N4.05 per previous share.

Also read: NGX: Equity Market Maintaining Bullish Run with N1.09Trn Profits for Investors

Legend Internet, Seplat PLC and Abbey Mortgage Bank PLC led other prices with 10%, 10% and 9.90% of stock price reductions to closed on N6.84, N4,964.40 and N6.19 from N7.60, N5,516.00 and N6.87 per previous share.

In the volume index, the United Bank for Africa PLC (UBA) led trade with 82 million shares in 958 agreements, followed by Fidelity Bank PLC who were traded 70 million shares in 888 agreements.

Nigerian Breweries PLC traded 37 million shares in 164 agreements.

In the value index, the United Bank for Africa PLC (UBA) shares that are traded worth N2.8 billion in 958 agreements, followed by Nigerian Brewers PLC who trade equity worth N2.1 billion in 164 agreements.

MTN Nigeria (MTNN) traded shares worth N2 billion in 424 agreements.

By: Babajide Okeowo