Multiverse, Daarcomm, FBNH drag bourse down as investors lose N98bn

The Nigerian equities market ended the previous week with a loss of N98 billion by investors on Friday.

This followed a dip in the share prices of stocks like Multiverse, Daar communication, and FBNH amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalisation crashed to N59.2 trillion from N59.3 trillion recorded by the bourse on Thursday.

The benchmark All-Share Index (ASI) decreased to 97,829.02 from 97,992.55 recorded the previous day.

The market breadth was positive as 26 stocks advanced and 24 stocks declined, while 75 stocks remained unchanged in 9, 677 deals.

Eunisell, Austinlaz, and HM CALL led other gainers with 9.99 percent, 9.92 percent and 9.91 percent growth each in share prices to close at N19.27, N2.66, and N5.10 from the previous N17.52, N2.42 and N4.64 per share.

Multiverse, Daar communication and FBNH led other price decliners with 9.03 percent, 8.82 percent, and 5.75 percent decline each in share prices to close at N6.55, N0.62, and N25.40 from the previous N7.20, N0.68 and N26.95 per share.

On the volume index, FBNH led trading with 42 million shares in 381 deals followed by GUINEA INSURANCE which traded 34 million shares in 135 deals.

PRESTIGE traded 27 million shares in 115 deals.

On the value index, FBNH traded stocks worth N1.1 billion in 381 deals followed by UBA which traded equities worth N466 million in 550 deals.

ARADEL traded shares valued at N465 million in 205 deals.