Investors lose N1.8tr as equities market tumbles

Investors in the Nigerian equities market lost N1.8 trillion at the close of trading on Monday.

This followed a decline in the market capitalization to N56.028 trillion from N57.850 trillion posted by the bourse on Friday.

Similarly, the All-Share Index (ASI) decreased to 102,393.23 from 105,722.78 recorded the previous day.

The market breadth also closed negative as 18 stocks advanced, 36 declined, while 68 others remained unchanged in 9,688 deals.

Juli led other gainers with 9.52% growth in share price to close at N1.61 from the previous N1.47 per share.

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Daar Communications, Sunu Assurances Nigeria, and ABC Transport also posted 8.64%, 6.74, and 6.67% growth in share prices respectively.

On the flip side, Dangote Cement and MTN Nigeria Communications led other price decliners as they shed 10% each off their share price to close at N686.70 and N247.50 from the previous close of N763.00 and N275.00 per share.

NGX Group, NEM Insurance, and Tantalizer with 9.76%, 9.74%, and 9.52% cut in their share prices completed the list of losers in today’s trading.

On the volume index, Guaranty Trust Bank Holding (GTCO) traded 28.846 million shares valued at N1.12 billion in 316 deals followed by Transcorp with 20.135 million shares worth N275.9 million traded by shareholders in 606 deals.

Access Bank Holding traded 15.900 million shares valued at N359.4 million in 506 deals.

Geregu traded equities worth N1.74 billion in 326 deals followed by GTCO with N1.12 billion in 316 deals.

Airtel Africa traded stocks worth N746 million in 65 deals to complete the top three in this category.