Equities market dips by N102bn

Agency Report

Trading activities on the floor of Nigerian Exchange on Wednesday took negative direction, declining by N102 billion losses in the shares of medium and large stocks impacted negatively on the market.

Market Capitalisation of listed equities declined by 0.14 per cent to N72.302 trillion from N72.404 trillion reported on Tuesday.

The NGX All Share Index also depreciated by 161.45 basis points to 114659.41 points from 114820.86 points recorded the previous day.

Although the market recorded more gainers than decliners, the depreciation in the shares of Nestle, Vitafoam Nigeria Plc, NCR and other 25 firm’s wipeout gains reported in 31 listed companies.

As a result, year to date return went down to 11.40 per cent.

A review of transactions during the day showed that ABC Transport and Betaglass led gainers table with 10 per cent to close at N6.24 and N231.10 per unit respectively, Berger paint followed with a gain of 9.98 per cent to close at N24.80 per share, Fidson gained 9.91 per cent to close at N34.95 per unit, Legend Internet added 9.88 per cent to close at N6.45 per share.

On the contrary, Abbey Building Society topped losers’ chart, decreasing by 7.50 per cent to close at N5.55 per unit, NCR trailed with a loss of 7.09 per cent to close at N5.50 per share, Vitafoam Nigeria Plc dipped by 6.64 per cent to close at N60.50 per unit, Daar Communications fell by 6.06 per cent to close at N0.62 per unit, Nestle Nigeria Plc went down by 5.69 per cent to close at N1500.00.

Volume of trades went down by 181.486 million, representing 27.80 per cent as investors traded 471.150 million shares valued at N14.188 billion in 20538 deals against 652.636 million shares worth N18.875 billion exchanged hands the previous day in 23978 deals.

FCMB group led market activities with 40.288 million shares valued at N410.146 million, United Bank for Africa followed with account of 36.545 million shares cost N1.305 billion, Access Holdings company traded 35.051 million shares valued at N788.953 million, Zenith exchanged 28.666 million shares cost N1.438 billion while.Japaul Gold sold a total of 25.368 million shares valued at N50.135 million.