Domestic equity sheds N850bn

The local equity market Tuesday sustained declining profile, shedding N850 billion as declined in the shares of BuaCement, FBNHoldings, Nigerian Breweries, Sterling Bank among others impacted negatively on the market activities.

Market capitalisation of listed equities depreciated by 1.5 per cent to N55.872 trillion from N56.872 trillion reported on Monday.

The NGX All Share Index also dropped by 1551.76 basis points to 102107.05 points from 103659.81 points recorded the previous day.

The NGX trading result showed that the market dominated by 46 declined against 14 gainers as year to date return stood at 36.56 per cent

An analysis of the investment showed that Juli Pharmaceutical and Cadbury Nigeria Plc led gainers table, gaining 10 per cent each to close at N0.77 and N24.20 per share respectively.

Meyer Paint followed with 9.94 per cent to close at N50.20 per unit, Daar Communication added 9.09 per cent to close at N0.84 per unit, CAP Plc up by 4.58 per cent to close at N25.10 per share.

BuaCement and Conhall Plc recorded the highest loss, dropping by 10 per cent each to close at N166.50 and N1.53 per unit respectively. Sterling Bank trailed with a loss of 9.85 per cent to close at N5.86 per share.

UDPC and TIP declined by 9.79 per cent each to close at N1.75 and N2.12 per share respectively.

Volume of activities went down by 347.357 million representing 41.27 per cent as investors traded 494.194 million shares valued at N7.696 billion in 11761 deals against 841.551 million shares worth N19.327 billion exchanged hands the previous day in 13674 deals 

Transactions in the shares of Jaiz Bank led market activities with 90.784 million shares valued at N226.979 million, Universal insurance followed with account of 40.397 million shares cost N16.641 million, JapaulGold traded 33.614 million shares worth N99.254 million, GTCO Plc exchanged 32.949 million shares worth N1.316 billion, FBNHoldings traded 27.536 million shares valued at N702.463 million