Briscoe, Tantalizer, others drag equities market down, as investors lose N24bn

Investors in the Nigerian equities market lost N24 billion at the close of trading on Wednesday.

This followed the dip in the share prices of RT Briscoe, FTN Cocoa, and Tantalizer, amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalisation crashed to N56.64 trillion from N56.67 trillion posted by the bourse on Tuesday.

The All-Share Index (ASI) decreased to 100,032.32 from 100,075.59 recorded the previous day.

The market breadth was positive as 28 stocks advanced and 14 declined, while 72 stocks remained unchanged in 8,720 deals.

Ucap, Afriprud, and Cutix led other gainers with 10 percent, 9.88 percent, and 9.86 percent growth in share price each to close at N36.30, N8.90, and N6.13 from the previous N33.00, N8.10, and N6.13 per share.

On the flip side, RT Briscoe, FTN cocoa, and Tantalizer led other price decliners as they shed 5.71 percent, 4.44 percent, and 4.26 percent each to close at N0.66, N1.72, and N0.45 from the initial N0.70, N1.80, and N0.47 per share.

On the volume index, Jaiz Bank led trading with 528 million shares valued at N1.14 billion in 240 deals followed by Cutix which traded 194 million shares valued at N1.19 billion in 72 deals.

Zenith Bank traded 77 million shares valued at N3.10 billion in 650 deals.

On the value index, Zenith Bank recorded the highest value for the day trading stocks worth N3.10 billion in 650 deals followed by CUTIX which traded equities worth N1.19 billion in 72 deals.

Jaiz Bank traded stocks worth N1.14 billion in 240 deals.