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Equity investors lose N2bn


NGX equity marketThe Nigerian equity market continued to bleed for the third consecutive day this week as investors lost N2.18bn on Wednesday.

The All Share Index and the market capitalisation dipped marginally by 0.004 per cent to close at 99,802.08 and N56.46tn, respectively.

On Monday, the Nigerian Exchange resumed the week with a loss of N8.62bn due to a dip in Caverton Offshore, Associated Bus Company, Nigeria Breweries, and 38 other stocks

On  Tuesday, equity investors suffered N114bn

The stock market’s year-to-date return stood at 33.56 per cent.

The banking industry led the volume and value charts in trading.

The top gainers included Fidelity Bank, Zenith Bank, United Bank for Africa and Guaranty Trust Bank Holdings.

The day’s trading saw a prevalence of bullish activity, with the exchange witnessing more gainers (26) than losers (22).

Some of the top losers in the equity market were Thomas Wyatt Nigeria Plc, which lost 10 per cent to close at N2.16, Daar Communications, which shed 8.77 per cent to close trading at N0.52, and Nigeria Breweries, which lost 8.37 per cent to close at N29.

Leading the gainers’ chart was Associated Bus Company with a 10 per cent appreciation to N0.77, Eterna gained 9.98 per cent to close at N18.35 and Computer Warehouse Group with 5.48 per cent to close at N6.90.

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