Domestic equity market decline by N84bn
Domestic equity market on Thursday returned to bearish trend, declining by N84 billion.
Market capitalisation of listed equities depreciated by 0.15 per cent to N56.079 trillion from N56.163 trillion reported the previous day.
The NGX All Share Index also decreased by 149.53 basis points to 99134.85 points from 99284.38 points traded the previous day.
The low performance of the stocks was driven by declined in the share price of Nigerian Breweries, Transcorps, Stanbic IBTC, Fidelity Bank, May and Baker and 12 others.
As a result, year to date return went down by 32.58 per cent as NGX printed 17 gainers against 18 losers
An analysis of the investment during the day showed that Oando Plc led gainers table with 9.77 per cent to close at N14.05 per share, Eterna Plc followed with a gain of 9.67 per cent to close at N14.75 per unit, Veritas Kapital added 9.52 per cent to close at N0.69 per share, NEM Insurance up by 8.75 per cent to close at N8.70 per unit, Wapic Insurance grew by 6.25 per cent to close at N0.68 per unit.
On the contrary, May and Baker topped losers’ chart, dropping by 10 per cent to close at N6.03 per unit, Fidelity Bank trailed with a loss of 9.72 per cent to close at N9.73 per share, Sovereign Trust Insurance down by 9.52 per cent to close at N0.38 per share. Stanbic IBTC dipped by 8.77 per cent to close at N52.00, SUNU Assurance fell by 6.98 per cent to close at N1.20 per unit.
Volume of transactions increased slightly by 1.67 million, representing 0.54 per cent as investors traded 309.806 million shares valued at N5.385 billion in 6765 deals against 308.136 million shares cost N4.862 billion in 7690 deals.
Trading activities in the shares of Fidelity Bank recorded the highest volume of shares, exchanging 49.195 million shares valued at N483.139 million, AccessCorp followed with account of 42.384 million shares cost N728.795 million, Oando Plc exchanged 28.617 million shares valued at N394.748 million, Guinness Nigeria Plc sold a total of 19.569 million shares cost N975.581 million while Veritas Kapital traded 18.623 million shares valued at N12.198 million.
