Trading ends negative, as investors lose N250bn

Investors in the Nigerian equities market lost N250 billion at the close of trading on Tuesday.

This followed the dip in the share value of Oando, UPL, Academy, and others on the trading floor today.

After five hours of trading at the capital market, the equity capitalisation crashed to N56.1 trillion from N56.3 trillion posted by the bourse on Monday.

The All-Share Index (ASI) decreased to 99,217.60 from 99,651.67 recorded the previous day.

The market breadth was negative as 26 stocks advanced, 23 declined, while 72 others remained unchanged in 8,511 deals.

Okomuoil, John Holt, and Conhall PLC led other gainers with 10 percent, 9.79 percent and 9.43 percent growth in share price to close at N291.50, N3.14, and N1.74 from the previous N265.00, N2.86, and N1.59 per share.

On the flip side, Oando, UPL, and Academy led other price decliners as they shed 9.75 percent, 9.09 percent, and 8.00 percent each to close at N12.50, N2.50, and N1.84 from the initial N13.85, N2.75, and N2.00 per share.

On the volume index, Transcorp led trading with 47.509 million shares valued at N581 million in 306 deals followed by GTCO which traded 37.853 million shares valued at N1.64 billion in 258 deals.

Veritaskap traded 34.950 million shares valued at N31 million in 173 deals.

On the value index, GTCO recorded the highest value for the day trading stocks worth N1.64 billion in 258 deals followed by MTNN which traded equities worth N598 million in 427 deals.