Equities market drops by 0.21%

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As expected, bearish sentiments resurfaced in the Nigerian equities market, with the All Share Index declining by 0.21 per cent to close at 26,330.39 basis points from 26,385.80 basis points it opened today.

 Today’s negative close increased the Year-to-Date loss to 2.03 per cent

Volume of trade transacted by investors likewise dropped by 9.1 per cent to 179.4 million units of shares from 197.4 million units of shares transacted previously, while value traded increased by 42.2 per cent to N1.5 billion from N1.05 billion. The day’s business were transacted in 2,928 deals in contrast to 3,410 deals recorded previously.

Market breadth closed negative with 13 advancers to 23 decliners. Livestock Feeds led on the gainers table by 4.94 per cent to close at 85 kobo, UBA followed with an increase of 4.89 percent to close at N4.93, Cap Hotel grew 4.83 per cent to close at N3.47.

 May and Baker appreciated 4.26 per cent to close at 98 kobo, and Diamond Bank gained 3.03 per  cent to close at N1.02.

Nascon led the decliners, losing 9.70 per cent to close at N7.63, Forte Oil dropped 9.20 per cent to close at N73.99, Fidson depreciated 8.26 percent to close at N1.11, UAC-Property fell 5 percent to close at N2.85, while PZ Cussons depreciated 4.90 percent to close at N13.79.

UBA topped the activity chart for the day, with the sale of 36 million shares worth N175.1 million. FBN Holdings followed with 29.4 million shares worth N108.4 million, while Access Bank emerged the third most traded stock for the day with 16.5 million shares amounting to N107.5 million.

Transcorp came fourth having traded 13.8 million units of shares valued at N12.4 million while UCAP was fifth with 12 million shares worth N39 million.

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