Equities market diminishes by 0.40%  


…Market capitalisation drops by N110.49bn

By Philemon Adedeji

Nigerian Exchange Limited ( NGX) recorded loss again for the second consecutive day of the week with a drop of 0.40 per cent, meanwhile All-Share Index dipped by 204.95 basis points

Specifically, All-Share Index depreciated by 204.95 basis points representing 0.40 per cent to close trade at 51,586.50 index points from 51,791.45 index points it closed trade on previous day.

Market capitalisation value dropped by N110.49 billion to close trade at N27.810 trillion from N27.941 trillion it closed trade on Monday.

Market sentiments closed negative as 22 stocks advanced against 17 stocks that declined since commencement of this year, stock market has advanced 4,917.53 basis points.

Yesterday trading revealed that volume of trade appreciated by 20.8 per cent as investors bought and sold  235.605 million units from 194.121 million units it closed on Monday, valued by N2.569 billion exchanged in 4,646 deals.

From the data presented by Nigerian Exchange Limited (NGX)  Redstarex came as the overall gainer with 10 per cent or 0.25 kobo increased to close trade at N2.75 per share, Johnholt followed by 0.08 kobo to close trade at N0.90 per share while UPDC which recorded as the third best gainer appreciated by 9.73 per cent or 0.11 kobo increased to close trade at N1.24 per share.

Unity bank emerged as the last fourth gainer grew by 9.52  per cent or 0.04 kobo to close trade at N0.46 per share and academy press which came as the best fifth gainer rose by 8.33 per cent to close trade at N1.43 per share

On the other hand, International breweries emerged in yesterday trading as the most losers with 9.52 per cent declined or 0.60 kobo to close trade at N5.70 per share, followed by Chiplc and Jaizbank dropped by 0.06 kobo each close trade at N0.69 and N0.84 per share respectively.

Nascon dipped by 6.38 per cent or 0.75 kobo to close trade at N11 per share and Buafood which recorded as the last fifth decliner dropped by 3.50 kobo to close trade at N51.50 per share

Transaction in the shares of Capital united led the volume chart, with 29.322 million shares worth N499.947 million, as Guaranty Trust Holding Company followed with 29.016 million shares valued at N592.437 million while United Bank of Africa accounted N25.404 million share worth 189.266 million.

Transcorp traded N23.866 million share worth 30.141 million and Sterling bank sold 16.440 million share worth N24.426 million share.

Capital United recorded as the highest on the volume chart while Guaranty Trust Holding Company recorded as the highest in terms of value.