The Nigerian equities market closed the week on a negative note as investors lost N23 billion at the close of trading on Friday.

This followed the dip in the share prices of stocks like UPDCREDIT, JULIUS BERGER, and IKEJA HOTEL, amongst others on the trading floor today.

After five hours of trading at the capital market, the equity capitalization crashed to N56.5 trillion from N56.6 trillion posted by the bourse on Thursday.

The All-Share Index (ASI) increased to 100,022.03 from 100,065.68 recorded the previous day.

The market breadth was positive as 31 stocks advanced and 26 declined, while 63 others remained unchanged in 8,551 deals.

CONOIL, OANDO, and VERITASKAP led other gainers with 10%, 9.68%, and 9.52 growth in share price each to close at N126.50, N17.00, and N1.15 from the previous N115.00, N15.50, and N1.05 per share.

On the flip side, UPDCREDIT, JULIUS BERGER, and IKEJA HOTEL led other price decliners as they shed 10%, 9.59%, and 9.15% each to close at N4.50, N88.60, and N6.95 from the initial of N5.00, N98.00, and N7.65 per share.

On the volume index, OANDO led trading with 53 million shares valued at N901 million in 755 deals followed by AIICO which traded 30 million shares valued at N34 million in 164 deals.

VERITASKAP traded 26 million shares valued at N30 million in 154 deals.

On the value index, TRANSPOWER recorded the highest value for the day trading stocks worth N1.01 billion in 91 deals followed by OANDO which traded equities worth N901 million in 755 deals.

By: Babajide Okeowo

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