Bears return as equity market sheds N193bn
The domestic equity market on Wednesday returned to bearish run, depreciating by N193 billion as bears dominated the activities during the day
Market capitalisation of listed equities depreciated by 0.35 per cent to N55.453 trillion from N55.646 trillion reported the previous day.
The NGX All Share Index also declined by 336.26 basis points to 96537.48 points from 96873.74 points recorded on Tuesday.
The negative performance in the shares of Oando, GTCO, Conoil , AccessCorp, Dangote Sugar , NGX group, UBA, Zenith Bank and 25 others impacted negatively on the market.
As a result year to date return went down to 29.11 per cent as NGX printed 33 losers against 21 gainers.
A review of trading during the day shows that Daar Communications led gainers table with 10 per cent to close at N0.66 per unit, IMG followed with a gain of 9.72 per cent to close at N35.00 per share, Deep Capital added 9.52 per cent to close at N1.15 per unit, Tanterlizer added 8.47 per cent to close at N0.64 per unit, Caverton Business Solutions up by 6.82 per cent to close at N1.41 per share.
On the contrary, Oando Plc topped losers chart, dropping by 10 per cent to close at N81.90 per unit, TIP trailed with a loss of 9.95 per cent to close at N1.81 per share, RTBriscoe down by 9.72 per cent to close at N2.60 per share, NSLTECH dipped by 9.23 per cent to close at N0.59 per unit, while Omatek wend down by 9.09 per cent to close at N0.70 per unit.
Volume of transactions declined by 83.771 million, representing 17.74 per cent as investors traded 389.232 million shares valued at N8.179 billion in 12039 deals against 473.003 million shares costing N10.411 billion exchanged hands the previous day in 12532 deals.
Trading in the shares of Oando Plc led market activities with 37.184 million shares valued at N3.099 billion, Universal Insurance followed with account of 33.714 million shares worth N12.688 million, Transnational Corporation of Nigeria exchanged 29.021 million shares cost N321.760 million, FTNCocoa traded 22.743 million shares cost N35.144 million while GTCO traded 21.947 million shares cost N1.005 billion.
