The Nigerian equity market continues to experience negative movements as investors lose N250 billion

Investors in the Nigerian equity market lost N250 billion at the close of trading on Tuesday.

This follows the plunge in the value of shares of OANDO, UPL, ACADEMY, and others on the stock exchange today.

After five hours of trading on the capital market, equity capitalization plummeted to N56.1 trillion from N56.3 trillion posted by the exchange on Monday.

The All-Share Index (ASI) fell to 99,217.60 from 99,651.67 recorded the previous day.

Market breadth was negative as 26 stocks rose, 23 stocks declined, while 72 other stocks remained unchanged in 8,511 transactions.

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OKOMUOIL, JOHN HOLT and CONHALLPLC led other gainers with share price growth of 10%, 9.79% and 9.43% to close at N291.50, N3.14 and N1.74 from previous N265.00, N2.86 and N1 .59 per share.

On the other hand, OANDO, UPL, and ACADEMY led another price decline as they fell 9.75%, 9.09%, and 8.00% respectively and closed at N12.50, N2.50, and N1.84 from initial N13.85, N2.75, and N2.00 per share.

On the volume index, TRANSCORP led trading with 47.509 million shares worth N581 million in 306 transactions followed by GTCO which traded 37.853 million shares worth N1.64 billion in 258 transactions.

VERITASKAP traded 34.950 million shares worth N31 million in 173 transactions.

On the value index, GTCO recorded the highest daily trading value of shares worth N1.64 billion in 258 transactions followed by MTNN which traded equities worth N598 million in 427 transactions.

TRANSCORP traded shares worth N581 million in 306 transactions.

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