Bears return as equity dips by N116bn
The domestic equity market on Tuesday returned to bearish run, shedding N116 billion losses in the shares of highly capitalised stock weighing down market index.
Market capitalization of listed equities decreased by 0.17 per cent to N66.577 trillion from N66.693 trillion reported the previous day.
The NGX All Share Index also depreciated by 185.00 basis points to 105931.18 points from 106116.18 po in its trade the previous day.
The losses recorded in the shares of MTN, Livestock, Multiverse and 17 others wiped out gains in the stocks of Cadbury Nigeria Plc, Legend International, Eterna Plc and 30 other firms.
As a result year to date return went down to 2.92 per cent as 33 companies closed in green against 20 that closed in red.
An analysis of the investment showed that Legend International led gainers table with 10 per cent to close at N8.2& per unit, ABC Transport followed with a gain of 9.94 per cent to close at N1.88 per unit, Cadbury Nigeria Plc fell by 9.91 per cent to close at N32.15 per unit, Champion Breweries down by 9.79 per cent to close at N4.71 per share, Eterna Plc gained 9.46 per cent to close at N48.00 per share.
On the contrary, Livestock Feeds topped losers chart , dropping by 9.71 per cent to close at N7.72 per unit, Multiverse trailed with a loss of 9.62 per cent to close at N7.05 per share, Mcnichols dropped by 9.47 per cent to close at N1.77 per unit, Omatek fell by 9.23 per cent to close at N0.59 per share, MTN Nigeria declined by 6.07 per cent to close at N240.00.
Volume of trades declined by 232.457 million, representing 46.44 per cent as investors traded 733.051 million shares valued at N35.288 billion in 16619 deals against 500.594 million shares worth N12.110 billion exchanged hands the previous day in 17647 deals.
Transactions on the shares of Fidelity Bank led market activities with 285.154 million shares valued at N5.774 billion, MTN Nigeria followed with account of 86.850 million shares cost N20.931 billion, AccessCorp traded 35.569 million shares cost N851.275 million, Universal insurance traded 29.109 million shares worth N15.188 million, GTCO Plc exchanged 28.510 million shares valued at N1.935 billion.
