Stock market closes 0.07%, as Courtville leads the losers

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By Philemon Adedeji

At the Nigerian Exchange Limited (NGX), the equities market maintained negative performance as the key market indicator dropped further by 34.06 absolute points while sell pressure persists.

The NGX All-Share Index decreased by 0.07 per cent to close at 49,642.69 basis points from  49,676.75 basis points at the end of the previous trading session. Similiarly, in Naira terms, the Market capitalisation value lost N18.37 billion.

The total volume traded declined by 45.93 percent to close at 125.95 million share worth  N3.07 billion and traded in 4,145 deals.

Yesterday, at the close of trading, market recorded 13 gainers to 13 losers. As ETRANZACT led the  gainers while COURTVILLE  led the  losers.

Sectoral performance was broadly negative as four (4) NGX sector index closed northward, nine (9) closed southward while five (5) closed flat. The NGX Oil and Gas Index inched up by 0.10 per cent to top the gainers chart while the NGX MERIVAL Index dipped by 0.29 per cent to top the losers’ chart.

On the gainers table, ETranzact plc led the gainers chart with 9.65 per cent or 0.22 kobo increased to close at N2.50 per share, followed by Sovereign Insurance which grew by 7.69 per cent increased to close at N0.28 per share, While Vitafoam rose significantly by 7.27 per cent to close at N23.60 per share.

Japaulgold went up by 6.45 per cent to close at N0.33 per share and Chi plc appreciated by 4.84 per cent to close at N0.65 per share

On the other hand, Courtville business solution led the losers chart with 7.69 per cent to close at N0.48 per share, First City Monument Bank that followed depreciated by 4.06 per cent to close at N3.07 per share while UPDC dropped by 3.77 per cent to close at N1.02 per share.

Nigeria Aviation Handling Company went down by 3.72 per cent to close at N5.70 per share and Cadbury which recorded as the last fifth loser dipped by 2.99 per cent to close at N13 per share.

Transaction in the share of Mutual Benefit Assurance topped the volume chart with  25.34million shares worth N8.241 million, followed by  Fidelity Bank which traded 10.225 million shares valued at N31.068 million while Accesscorp accounted 8.990 million shares worth N73.675 million.

First bank Holding transacted 7.707 million shares valued at N84.294 million and MTNN sold 7.273 million shares valued at  N1.450billion.