Equities market slumps as investors begin week with N62bn loss

The Nigerian equities market began the new week on Monday, December 9, 2024 with a loss, as investors lost N62bn at the end of the trading session on the floor of the Nigerian Exchange Group (NGX).

This was a result of the dip in the share prices of stocks like NSLTECH, Guineains, and Deapcap amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalisation fell to N59.471 trillion from N59.534 trillion that was recorded by the bourse on Friday last week.

The benchmark All-Share Index (ASI) decreased to 98,107.52 from 98,210.75 recorded the previous trading day.

The market breadth was negative as 18 stocks advanced and 36 stocks declined, while 69 stocks remained unchanged in 9,489 deals.

NGXGROUP, Goldbrew, and Tantalizer led other gainers with 10%, 10% and 9.92% growth each in share prices to close at N27.50, N5.94, and N1.33 from the previous N25.00, N5.40 and N1.21 per share.

NSLTECH, Guineains, and Deapcap led other price decliners with 10%, 8.93%, and 8.40% decline each in share prices to close at N0.63, N0.51, and N1.09 from the previous N0.70, N0.56 and N1.19 per share.

On the volume index, FCMB led trading with 61 million shares in 205 deals followed by Access Corp which traded 51 million shares in 430 deals.

UBA traded 27 million shares in 546 deals.

On the value index, Aradel topped as the securities traded stock worth N3.5 billion in 284 deals followed by GTCO which traded equities worth N1.3 billion in 249 deals.

Access Corp traded shares valued at N1.2 billion in 298 deals.