Equities market closes lower by 0.02%, as market capitalisation loses 17bn

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By Philemon Adedeji

Trading activities on the Nigerian Exchange Limited (NGX) closed bearish as the benchmark index closed marginally lower by 0.02 per cent to close at 43,808.25 index points from 43,818.12 index points it closed trade on Monday.

Selloffs in Wapco Insurance (-9.66 per cent) and Accesscorp (-0.61 per cent) offset the investors interest in BUAFOODS (+1.16 per cent), Zenith Bank (+0.75 per cent), Guaranty Trust Holding Company (+2.26 per cent) and First Bank Holding of Nigeria (+0.48 per cent).

Specifically, the All-Share Index year-to-date (YTD) return dropped to 2.56 per cent, while the market capitalisation lost N17.67 billion to close at 23.86 trillion.

Analysis of yesterday market activities revealed that trade turnover settled lower relative to the previous session, with the value of transactions down by 53.20 per cent.

A total of 103.47 million shares valued at N1.19 billion were exchanged in 3,045 deals. First Bank Holding of Nigeria (+0.48 per cent) led the volume chart with 11.39 million units traded while Buafoods (+1.16 per cent) led the value chart in deals worth N221.59 million.

Market breadth closed positive at a 1.2-to-1 ratio with advancing issues outnumbering declining ones. Learnafrica led eleven (11) others on the leaders table, while Wapco Insurance led nine (9) others on the decliners table.

Learnafrica and Computer Warehouse Group was the most price gainer at the close of trade yesterday which appreciated by 10 per cent each increase to close at N1.65 and N0.88 per share respectively.

Caverton Offshore which followed gained 8.75 per cent to close at N0.87 per share.

Prestige Assurance which recorded as the last fourth gainer went up by 8.33 per cent to close at N0.39 per share and Japaulgold which recorded as the last fifth gainer rose by 7.41 per cent to close at N0.29 per share.

However, Wapco Insurance emerged as the highest price loser at the close of trade dipped by 9.66 per cent to close at N20.10 per share followed by Royalex Exchange which lost 9.41 per cent to close at N0.77 per share while Cornest which recorded as the last third loser dropped by 9.09 per cent to close at N0.40 per share.

Updcreit declined by 8.93 per cent to close at N2.55 per share and FTNcocoa which recorded as the last fifth loser went down by 8.82 per cent to close at N0.31 per share.

Transaction in the shares of First Bank Holding of Nigeria topped the activities with 11.385 million shares valued at N124.224 million followed by Transcorp plc which transacted 11.307 million shares worth N12.348 million while Fidelity Bank accounted 10.337 million shares worth N42.294 million.

Accesscorp plc traded 8.726 million shares valued at N71.029 million and Guaranty Trust Holding Company accounted 5.966 million shares worth N107.940 million.