Domestic equities market dip by N352bn

The Domestic Equities market on Wednesday returned to negative note dropping by N352 billion as losses recorded in the stocks of MTN Nigeria and others impacted negatively on the performance of the market.

The NGX All Share Index also depreciated by 549.44 basis points to 165164.38 points from 165713.82 points traded the previous day.

The market dominated with bears recording 38 decliners against 32 gainers, bringing year to date return to 6.14 per cent.

An analysis of the investment showed UHomreit DeapCapital led gainers table with 9.97 per cent to close at N94.85 and N9.45 per unit respectively. Tantalizer followed with a gain of 9.92 per cent to close at N3.88 per unit, SkyAVN up by 9.91 per cent to close at N128.60 per unit, Morrison gained 9.90 per cent to close at N9.99 per share.

On the contrary, RTBriscoe topped losers’ chart, dropping by 9.97 per cent to close at N6.50 per unit, May and Baker and Ikeja Hotel trailed with a dropped 9.96 per cent each to close respectively to N35.25 and N32.25 per unit, Living Trust Insurance down by 9.90 per cent to close at N4.64 per unit, Entranzact dipped by 9.16 per cent to close at N17.35 per share.

Volume of trades up by 140.083 million, representing 28.99 per cent as investors traded 623.176 million against 483.093 million recorded the previous day.

Value of transactions declined by 4.04 per cent to settle at N16.540 billion in 42172 deals.

Trading in the shares of Neimeth international Pharmaceutical led market activities with 58.125 million shares valued at N590.602 million, Chams followed with account of 39.505 million shares cost N190.587 million, Access Holdings company exchanged 33.356 million cost N757.454 million, Zenith Bank traded 32.422 million cost N230.361 million, Tantalizer sold 29.244 million shares valued N109.838 million.