NGX: Equities market in massive slump as investors lose N1.1tr

Investors in the Nigerian equities market lost N1.1 trillion at the close of trading on Friday.
This followed the dip in the share prices of stocks like ETERNA, DANGOTE CEMENT, and DAAR COMMUNICATION amongst others on the trading floor today.
After five hours of trading at the capital market, the equity capitalization crashed to N55.6 trillion from N56.7 trillion posted by the bourse on Thursday.
The All-Share Index (ASI) also decreased to 98,201.49 from 100,156.96 recorded the previous day.
The market breadth was negative as 17 stocks advanced and 23 declined, while 72 others remained unchanged in 9,098 deals.
OANDO, FCMB, and WAPIC led other gainers with 10%, 8.22%, and 7.50% growth in share price each to close at N20.35, N7.90, and N0.86 from the previous N18.50, N7.90, and N0.86 per share.
READ ALSO: NGX: Investors gain N1.6tr as All-Share-Index crosses 100K mark
On the flip side, ETERNA, DANGOTE CEMENT, and DAAR COMMUNICATION led other price decliners as they shed 10%, 9.99%, and 9.62% each to close at N16.20, N591.10, and N0.47 from the initial N18.00, N656.70, and N0.52 per share.
On the volume index, FCMB led trading with 495 million shares valued at N3.76 billion in 136 deals followed by ABBEYBDS which traded N234 million shares in valued at N610 million in 564 deals.
OANDO traded 73 million shares valued at N1.47 billion in 651 deals.
On the value index, TRANSPOWER recorded the highest value for the day trading stocks worth N10.3 billion in 468 deals followed by FCMB which traded equities worth N3.76 billion in 136 deals.
OANDO traded stocks worth N1.47 billion in 651 deals.
By: Babajide Okeowo
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