Equities market drops by N24bn
The local equities market of the Nigerian Exchange Limited (NGX) on Thursday reversed prior day’s gains as the overall capitalisation declined by N24 billion.
Accordingly, the All Share Index (ASI) shed by 43.58 points or 0.06 per cent to close at 67,335.30 basis points.
Also, market capitalisation lost N24 billion to close at N36.853 trillion.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, Northern Nigeria Flour Mills (NNFM), Guaranty Trust Holding Company (GTCO), Zenith Bank and eTranzact International.
As measured by market breadth, market sentiment was positive as 26 stocks gained relative to 25 losers. Chellaram recorded the highest price gain of 10 per cent to close at N3.85, per share. Learn Africa followed with a gain of 9.97 per cent to close at N3.31, while Academy Press rose by 9.94 per cent to close at N1.88, per share.
Consolidated Hallmark Insurance up by 9.52 per cent to close at 92 kobo, while Courteville Business Solutions gained by 9.26 per cent to close at 59 kobo, per share.
On the other hand, eTranzact International led the losers’ chart by 10 per cent, to close at N7.20, per share. Ikeja Hotel followed with a decline of 9.84 per cent to close at N2.75, while Associated Bus Company declined by 9.78 per cent to close 83 kobo, per share.
Guinea Insurance depreciated by 9.38 per cent to close at 29 kobo, while R.T. Briscoe Nigeria declined by 9.09 per cent to close at 40 kobo, per share.
The total volume traded increased by 38.4 per cent to 788.54 million units, valued at N14.17 billion, and exchanged in 8,810 deals.
Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 301.026 million shares valued at N4.892 billion. Sterling Financial Holdings Company followed with 82.476 million shares worth N313.286 million, while Consolidated Hallmark Insurance traded 46.031 million shares valued at N37.802 million.
Oando traded 36.691 million shares valued at N383.747 million, while Fidelity Bank sold 31.4 million shares worth N261.255 million.
