The Nigerian equities market reversed days of profit-making on Thursday as investors lost N266 billion at the close of the day’s trading.

This followed the dip in the share prices of stocks like Caverton (Caverton Offshore Support Group), Cadbury (Cadbury Nigeria), and ABC TRANS (Associated Bus Company Transportation), amongst others on the trading floor.

After five hours of trading at the capital market, the equity capitalization crashed to N56.6 trillion from N56.8 trillion recorded by the bourse on Wednesday.

The benchmark All-Share Index (ASI) decreased to 98,523.56 from 98,987.42 points recorded the previous day.

The market breadth was positive as 28 stocks advanced and 25 stocks declined, while 62 stocks remained unchanged in 9,005 deals.

FTN COCOA (FTN Cocoa Processors), ELLAH LAKES (Ellah Lakes Plc), and DEAPCAP (Deap Capital Management & Trust) led other gainers with 9.82%, 9.80% and 9.78% growth each in share prices to close at N1.79, N4.48, and N1.01 from the previous N1.63, N4.48, and N0.92 per share respectively.

READ ALSO: NGX: Equities market sustains bullish trend as investors make N104bn

On the flip side, CAVERTON, CADBURY, and ABC TRANS led other price decliners as they shed 9.73%, 9.39%, and 8.73% each to close at N2.97, N17.85, and N1.15 from the initial N3.29, N19.70, and N1.26 per share.

On the volume index, UBA led trading with 29 million shares valued at N797 million in 479 deals followed by ACCESS CORP which traded 26 million shares valued at N526 million in 408 deals.

HONEY FLOUR traded 25 million shares valued at N122 million in 416 deals.

On the value index, UBA recorded the highest value for the day trading stocks worth N797 million in 479 deals followed by OANDO which traded equities worth N594 million in 632 deals.

ZENITH BANK traded shares valued at N559 million in 429 deals.

By: Babajide Okeowo

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