Equities market drops by 0.35%

By Philemon Adedeji

Equities market on Nigerian Exchange Limited (NGX)  closed on negative note for the second day of the week as All shares Index depreciated by 187.47 basis points.

The cause of negative performance of some stocks is due to downturn in large, medium and capitalised stocks

Basically, All shares Index declined by 187.47 basis points to close trade at 52,756.62 index points from 52,944.09 index points it closed for last trade.

The overall market capitalisation decreased by N101 billion to close trade at N28.441trillion from N28.542trillion it closed trade on Tuesday market sentiments as measured by market breadth was negative as 21 stocks gained against 27 stocks that declined

On the gainers chart, PZ Cussons was the most price gainer which gained 1.20 kobo representing 9.96 per cent increased to close trade at N13.25 per share, Bergers paint rose by 9.72 per cent to close trade at N7.90 per share.

NNFM which recorded as the third most gainer grew by 1.05 kobo or 9.63 per cent to close trade at N11.95 per share, Mcnichols appreciated by 0.14 kobo to represent 9.52 per cent increased to close trade at N1.61 per share, and Abbeybds which recorded as the last fifth gainer went up by 0.13 kobo representing 9.49 per cent to close trade at N1.50 per share

At the end of trading session, Flour Mill was recorded as most loser which dipped by 9.20 per cent or 3.75 kobo to close trade at N37 per share Glaxosmith depreciated by 0.60 kobo to close trade at N6.55 per share.

Nigeria Police Microfinance Bank declined by 0.17 kobo or 8.02 per cent to close trade at N1.95 per share, Japaulgold dropped by 6.25 per cent or 0.02 kobo to close trade at N0.30 per share.

Champion Breweries which recorded as the last fifth loser dipped by 0.24 kobo representing 6.09 per cent to close trade at N3.70 per share.

Transaction in the shares of First City Monument Bank topped the volume chart which traded 775.091 million shares worth N2.594billion.

Jaiz Bank accompanied with 172.146 million shares valued at N151.769 million, as Transcorp plc traded 140.076 million shares valued N202.127 million.

Guaranty Trust Holding Company transacted 50.386 million shares worth N1.206 billion, while international breweries traded 21.022 million shares valued at N165.128 million.

First City Monument Bank topped both volume and value in yesterday trading.