Domestic equities sustain downward trend, shed N103bn
Transactions on the floor of Nigerian Exchange NGX on Thursday sustained a declining profile, shedding N103 billion as profit taking activities in major stocks persisted during the day.
Profit taking in small and medium stocks such as AustinLaz, Cornerstone Insurance Thomas Wyatt Oando Plc, Wema Bank, Zenith Bank, GTCO Plc, NGXgroup impacted negatively on the market performance
Market capitalisation of listed equities depreciated by 0.05 per cent to N159.048 trillion from N159.151 trillion reported the previous day.
The NGX All Share Index also depreciated by 159.55 basis points to 244956.94 points from 245126.49 points recorded on Wednesday.
The market breath was negative with 16 gainers against 22 decliners, bringing year to date return lower to 57.44 per cent, bringing year to date return to 57.44 per cent
An analysis of the investment showed that AvaCap led gainers table with 9.85 per cent to close at N7.25 per unit, PZ Cussons followed with a gain of 8.58 per cent to close at N68.95 per unit, Tantalizer added 5.85 per cent to close at N3.98 per unit, International General Insurance increased by 5.42 per cent to close at N2.14 per unit, VFD group added 3.59 per cent to close at N13.00 per unit.
On the contrary, Thomas wyatt topped losers chart, dropping by 10.00 per unit, AustinLaz trailed with a loss of 8.81 per cent to close at N2.90 per unit, NSLTech fell by 6.85 per cent to N0.68 per share, UPDC down by 6.49 per cent to close at N3.60 per unit, Cornerstone Insurance declined by 6.12 per cent to close at N4.90 per share
The trading further showed that the volume of trades declined by 15.992 million, representing 4.51 per cent as investors traded 338.138 million shares against 354.130 million shares reported the previous day. The value of trades also depreciated by 18.66 per cent to settle at N19.195 billion.
Transactions in the shares of Livestock Feeds led market activities with 40.966 million shares valued at N766.902 million, Zenith Bank followed with account of 33.783 million shares valued at N4.116 billion, GTCO Plc traded 20.967 million shares cost N2.559 billion, Jaiz Bank exchanged 19.229 million shares valued at N149.860 million, NSLTech exchanged 18.407 million shares valued at N12.754 million.
