Domestic equities shed N113bn

Trading activities on the floor of Nigerian Exchange (NGX) on Thursday took downward direction, shedding N113 billion as loss recorded by some capitalised companies impacted negatively on the market.

Market capitalization of listed equities declined by 0.19 per cent to N58.918 trillion from N59.031 trillion reported the previous day.

The NGX All Share Index also depreciated by 185.76 basis points to 97233.07 points from 97414.83 points recorded on Wednesday.

The negative performance of the market was driven by loss in the shares of Buacement, Conoil, Oando , Custodian which wipe out gain recorded in the shares of Flour Mills Nigeria Plc, Tip, JohnHolt and 12 other companies.

As a result year to date went down to 30.04 per cent as market 15 companies closed in red against 32 firms reported positive growth trend.

A review of the investment showed that Flour Mills Nigeria Plc and TIP  led gainers table, increasing by 10 per cent each to close at N71.50 and N2.53 per unit respectively.

JohnHolt followed with a gain of 9.86 per cent to close at N7.02 per unit, International General Insurance added 9.85 per cent to close at N1.46 per unit, SUNU Assurance added 9.73 per cent to close at N2.48 per share.

Abbey Building Society topped losers chart, dropping by 9.77 per cent to close at N2.40 per unit, ABC Transport trailed with a loss of 9.45 per cent to close at N1.15 per unit, Conoil fell by 6.15 per cent to close at N244.00, Buacement fell by 5.93 per cent to close at N92.00, Custodian Insurance dipped by 4.76 per cent to close at N12.00.

Investors during the day traded 291.534 million shares valued at N7.816 billion in 7931 deals against 247.014 million shares cost N7.510 billion exchanged hands the previous day in 8305 deals .

AcçessCorp led market activities with 60.357 million shares valued at N1.502 billion, United Bank for Africa followed with account of 17.926 million shares cost N594.499 million, Zenith Bank traded 16.222 million shares worth N695.440 million, Oando Plc exchanged 15.621 million shares cost N950.403 million while United Capital traded 15.432 million shares cost N265.339 million.