Investors end week’s trading with N173bn loss

Investors in the Nigerian equities market ended the week’s trading with a N173 billion loss on Friday.

This followed the slump in the share value of Unity Bank, FBNH, Tantalizer, and Deap Capital Management & Trust, amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalisation crashed to N56.2 trillion from N56.4 trillion posted by the bourse on Thursday.

Similarly, the All-Share Index (ASI) fell to 99,539.75 from 99,845.91 achieved by the bourse the previous day.

The market breadth was negative as 14 stocks advanced, 19 declined while 87 others remained unchanged in 7,168 deals.

FTN Cocoa Processors led other gainers with 9.60 percent growth in share price to close at N1.37 from its previous N1.25 per share.

R.T. Briscoe, Livestock Feeds, and Royal Exchange also raised their share prices by 9.26 percent, 9.02 percent, and 8.06 percent respectively.

On the flip side, Unity Bank led other price decliners as it shed 10 percent off its share price to close at N1.62 from the previous N1.80 per share.

Tantalizers, Deap Capital, and Caverton Offshore equally shed their share prices by 8.57 percent, 7.35 percent, and 6.83 percent respectively.

On the volume index, United Bank for Africa (UBA) traded 38.715 million shares valued at N880.5 million in 687 deals followed by Guaranty Trust Holding Company (GTCO) which traded 38.296 million shares worth N1.31 billion in 629 deals.

Access Holdings traded 34.339 million shares valued at N584.5 million in 660 deals.

On the value index, banking stocks led the way again as GTCO recorded the highest value for the day, trading stocks worth N1.31 billion in 629 deals followed by UBA which traded stocks worth N880 million in 687 deals.

Zenith Bank traded equities worth N875 million in 622 deals.