Stock market down by N10bn stocks sell-off
By Philemon Adedeji
Trading activities on the floor of the Nigerian Exchange Limited (NGX), Yesterday returned on negative note Wednesday, to upturn the previous day’s gain following losses recorded by blue chip firms.
Similarly, the stock market recorded 10 gainers including Prestige Assurance Plc against 16 losers led by Courtiville Business Solutions Plc to close the market breadth negative.
Absolutely, the All-Share Index decreased by 18.29 absolute points or 0.04 per cent to close at 49,691.17 index points as against 49,709.46 index points recorded for the last trading session.
This is as market capitalisation of equities dropped by N10 billion from N26.811 trillion the previous day to N26.801 trillion as market sentiment returned to negative territory.
Meanwhile, a turnover of 128.78 million shares exchanged in 3,492 deals was recorded in the day’s trading.
The premium sub-sector was the most active (measured by turnover volume); with 63.045 million shares exchanged by investors in 1,145 deals. Volumes in the sub-sector was largely driven by activities in the shares of Zenith Bank Plc and FBNH Plc.
Also, the insurance sub-sector was boosted by activities in the shares of Cornerstone Plc and Regency Alliance Insurance Plc followed by a turnover of 19.53 million shares in 192 deals.
MIDWEEK NGX ASI TOP GAINERS/
In yesterday trading, PRESTIGE was recorded as the highest price gainer, with 9.09 per cent to close at N0.48 per share, Followed by SOVERIGN INSURANCE which rose by 8.00 per cent to close at N0.27 per share while / LASACO which recorded as the third most gainer appreciated by 6.48 per cent to close at N1.15 per share.
UNITY BANK went up by 4.65 per cent to close at N0.45 per share, ACADEMY PRESS grew by 2.40 per cent to close at N2.13 per share.
MIDWEEK NGX ASI TOP LOSERS
On the other hand, COURTVILLE BUSINESS SOLUTION recorded as the highest price loser which dipped by 9.80 per cent to close at N0.48 per share, SCOA that followed as the second most loser declined by 9.79 per cent to close at N1.76/ per share, While SKYWAY AVIATION went down by 9.73 per cent to close at N5.10/ per share.
REGALINS depreciated by 8.00 per cent to close at N0.23 per share,/ HONEYWELL which recorded as the last fifth loser dropped by 5.36 per cent to close at N2.65/ per share.
Transaction in the shares of First Bank Holding of Nigeria topped the activities chart with 28.366 million share worth 303.228 million, followed by Zenith Bank which transacted 16.658 million share valued at 361.685 million share, While United Bank of Nigeria traded 11.173 million share worth 78.165 million.
Cornest traded 11.139 million share worth 7.434 million and Union Bank of Nigeria transacted 5.705 million share valued at 36.538 million.
In yesterday trading, First Bank Holding of Nigeria was recorded as the highest in terms of volume while Zenith Bank recorded as the highest in terms of value.
