Equities market ends week in red as investors lose N37bn

Investors in the Nigerian equities market lost N37 billion at the close of trading on Friday.

This followed the dip in the share prices of stocks like CAVERTON, NNFM, and UPL, amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization crashed to N56.5 trillion from N56.6 trillion recorded by the bourse on Thursday.

The benchmark All-Share Index (ASI) decreased to 98,458.68 from 98,523.56 points recorded the previous day.

The market breadth was negative as 21 stocks advanced and 25 stocks declined, while 72 stocks remained unchanged in 7,764 deals.

BETAGLAS, MEYER, and DEAPCAP (Deap Capital Management & Trust) led other gainers with 10%, 9.93%, and 9.90% growth each in share prices to close at N48.95, N7.75, and N1.11 from the previous N44.50, N7.05, and N1.01 per share.

On the flip side, CAVERTON, NNFM, and UPL led other price decliners as they shed 9.76%, 9.50%, and 8.85% each to close at N2.68, N31.90, and N2.37 from the initial N2.97, N35.25, and N2.60 per share respectively.

On the volume index, JAPAUL GOLD led trading with 591 million shares valued at N1.4 billion in 194 deals followed by UBA which traded 27 million shares valued at N717 million in 451 deals.

Zenith Bank traded 11 million shares valued at N442 million in 381 deals.

On the value index, JAPAUL GOLD also recorded the highest value for the day trading stocks worth N1.4 billion in 194 deals followed by OANDO which traded equities worth N771 million in 706 deals.

SEPLAT traded shares valued at N745 million in 191 deals..