Market Capitalisation dips further to N13bn
By Philemon Adedeji
Trading activities in the Nigerian equities market which started declination on Wednesday still continue on declines yesterday to N13 billion from N42 billion it closed trade on previous trading day as investors booked profit in Transcorp, Guaranty Trust Holdings Company, United bank of Africa and 15 others.
In summary, the Nigerian Exchange Limited (NGX) All share index depreciated to 23.24 absolute points, representing a decrease of 0.04 per cent to close trade at 53,170.73 points.
Specifically, the overall market capitalisation value lost 13 billion to close trade at N28.664 trillion from N28.677 trillion it closed trade on Wednesday.
The market loss was driven by price depreciation in large and medium capitalised stocks amongst are Cileasing, FTN cocoa, Zenith bank and others.
Market activities by both volume and value of trade inched weight in the session with daily volume stand at 318,417,693 million units representing a 28 per cent increased from 248,958,637 million units traded in the previous trading and valued by N3.338 billion exchanged in 4,345 deals
Market sentiments as measured by market breadth was positive as 15 stocks constituted the gainers while 18 stocks constituted the losers.
On the advancers table, UPL gained 9.43 per cent or 0.25 kobo increased to close trade at N2.90 per share,followed by Cornest which came as the second best gainer went up by 0.05 kobo representing 8.93 per cent increased to close trade at N0.61 per share, while Ellah lakes rose by 0.27 per cent to represent 7.89 per cent increased to close trade N3.69 per share.
International breweries which recorded as the fourth best gainer grew by 4.23 per cent or 0.30 kobo increased to close trade at N7.40 per share and Regalins which came as last fifth gainer appreciated by 3.70 per cent or 0.01 kobo increased to close trade at N0.28 per share.
On the other hand, Cileasing dropped by 0.30 kobo to close trade at N3.20 per share, FTN cocoa dipped from N0.36 to N0.33 per share, representing 0.03 kobo or 8.33 per cent.
Ikeja hotel which recorded as the third best loser depreciated by 3.23 per cent or 0.04 kobo to close trade at N1.20 per share, while Glaxosmith decline by ,0.20 kobo representing 2.74 per cent to close trade at N7.10 per share and Zenith bank which recorded as the last fifth decliners went down y 2.35 per cent or 0.55 kobo to close trade at N22.85 per share.
On the volume chart, Transcorp led yesterday with 165.206 million shares worth N225.900 million, Followed by Guaranty Trust Holding Company which sold 22.221 million shares worth N493.110 million, while United Bank of Africa traded 19.098 million shares valued at N148.608 million.
First bank holding of Nigeria accounted 13.343 million shares valued at N135.152 million and Zenith Bank transacted 12.575 million shares worth N290.712 million
In Yesterday trading, Transcorp emerged as the overall gainer in terms of volume while Guaranty Trust Holding Company led in terms of value
