Equities market slumps as investors lost N11bn to begin week in red

Investors in the Nigerian equities market lost N11 billion at the close of trading on Monday, to begin the week in the red zone.

This followed the dip in the share prices of stocks such as IMG, HM Call, and LivingTrust Microfinance Bank, among others on the trading floor.

The benchmark All-Share Index (ASI) decreased to 166,129.5 points from the 166,112.5 points recorded the previous trading day.

After five hours of trading at the capital market, the equity capitalisation dipped to N106.34 trillion from N106.35 trillion posted by the bourse on Friday.

The market breadth was positive with 44 stocks advancing, 24 stocks declining, and 80 stocks remaining unchanged in 57,858 deals.

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A total of 629,600,135 shares were traded, valued at N14.7 billion.

Learn Africa, Champion, and NCR led the gainers’ chart with 10% growth each in share prices, respectively, to close at N7.15, N19.25, and N141.40 per share, up from the previous N6.50, N17.50, and N128.55 per share.

IMG, HM Call, and LivingTrust Microfinance Bank led other price decliners with a 9.95%, 9.88%, and 9.57% dip each in share price to close at N34.85, N3.83, and N4.44 per share, down from the previous N38.70, N4.25, and N4.91 per share

On the volume index, Secure Electronics led trading with 83 million shares in 493 deals, followed by AccessHolding Plc, which traded 52 million shares in 2, 528 deals.

Jaiz Bank traded 39 million shares in 4,607 deals.

On the value index, Zenith Bank traded stocks valued at N1.5 billion in 2,362 deals, followed by Aradel, which traded equities worth N1.5 billion in 938 deals.

Access Holding Plc traded shares valued at N1.2 billion in 2,528 deals.

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