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Investors Spend N50.7bn on Shares as Key Market Indicators Decline

Shares traded on the Nigerian Stock Exchange (NGX) on Wednesday hit 1,000,528,094 as 85,671 deals exchanged hands, with a corresponding market value of N50,712,712,462.93 kobo, news.ng reports.

Key market performance indicators, such as volume of trade, declined by 21%, turnover also went down by 33%, while deals plummeted by 16%.

The NGX market capitalisation stood at N155.8 trillion (USD 114 billion).

According to data, out of 133 listed equities for trading, 48 recorded gains, while 23 closed at a loss.

For the gainers, Airtel Africa led the chart with a 10% share price increase, closing at N3,323.40 kobo per share, followed by CAP, which gained 9.99%, closing at N193.20 kobo per share.

Others include Zichis Agro Allied Industries, which gained 9.97%, closing at N27.58 kobo, while RT Briscoe gained 9.95%, closing at N14.15 kobo per share.

On the losing side, Sunu Assurances Nigeria was the worst performer with a price depreciation of 10% to close at N4.05 kobo per share, followed by Guinness Nigeria, which lost 9.99% in share price to close at N402.60 kobo per share.

Caverton Offshore Support Group also lost 8.33% in share price to close at N5.50 kobo per share, and Fortis Global Insurance shed 7.69% to close at N1.08 kobo per share.

Meanwhile, Wednesday’s trading saw Access Holdings record the highest volume with 85.4 million traded shares, followed by Chams with 83.4 million shares traded, Secure Electronic Technology with 59.8 million shares traded, and Zenith Bank with 56 million shares traded.