Domestic equities shed N904bn

The domestic equity market on Tuesday returned to bearish run, declining by N904 billion as losses recorded in the heavyweight stocks weighed down the trading for the day.

Market capitalisation of listed equities declined by 0.58 per cent to N155.152 trillion from N156.056 trillion recorded the previous day.

The NGX All Share Index also depreciated by 1408.82 basis points to 241750.15 points from 243158.97 points reported on Monday.

Although the market breadth was positive with 45 gainers against 26 decliners, losses recorded in the shares of MTN Nigeria, Guinness Nigeria Plc, Aradel Plc among others impacted negatively on the market performance,bringing the year to date return down to 55.39 per cent.

A review of the investment during the day showed Mcnichols Plc, RTBriscoe, Zichis Agro Allied industries and Vitafoam Nigeria Plc led gainers table with 10 per cent to close at N7.92, N12.87, N25.08 and N170.50 per share respectively. Dangote Sugar followed with a gain of 9.98 per cent to close at N84.30 per unit, Conhall Plc added 9.97 per cent to close at N6.29 per share.

On the contrary Guinness Nigeria Plc topped losers chart with 10 per cent to close at N447.30 per share, Union Dicon trailed with a loss of 9.82 per cent to close at N19.95 per share, AIICO insurance dipped by 9.28 per cent to close at N4.30 per unit, Wema Bank dropped by 8.72 per cent to close at N30.35 per share, MTN Nigeria fell by 8.65 per cent to close at N836.00 per unit while Sovereign Trust Insurance declined by 8.33 per cent to close at N2.09 per unit, Aradel Plc dropped by 5.51 per cent to close at N18880.00 per share.

Volume of trades declined also by 139.00 million, representing 9.88 per cent as investors traded 1.268 billion shares against 1.407 billion the previous day. Value of transactions surged by 29.74 per cent to settle at N75.225 billion in 102665 deals.

Trading in the shares of FCMB group led market activities with 156.826 million shares valued at N1.727 billion, GTCO Plc followed with account of 67.674 million shares worth N9.418 billion, Access Holdings company traded 60.755 million shares cost N1.545 billion, Fidelity Bank exchanged 42.204 million shares worth N848.374 million while Jaiz Bank exchanged 40.596 million shares valued at N386.668 million.