Equities market remain bearish, sheds N292bn
Trading activities on the floor of Nigerian Exchange (NGX) on Thursday remained on negative trajectory, shedding N292 billion as profit taking persisted in the market.
Trading for the day appeared as investors focused on consolidating profits while reassessing valuations in the context of both domestic and global developments.
This resulting in Market capitalization of listed equities declining by 0.32 per cent to N91.710 trillion from N92.002 trillion reported the previous day.
The NGX All Share Index also depreciated by 458.98 basis points to 144187.03 points from 144646.01 points traded on Wednesday.
Loses in the shares of UBA, Fidelity Bank, GTCO Plc, Access Holdings Company, United capital and 33 others help to drag the shares down at the close of trading for the day.
Volume of transactions declined by 543.238 million, representing 60.87 per cent as investors traded 349.289 million shares against 892.527 million; value of trades fell by 60.51 per cent to settle at N9.297 billion in 18752 deals.
The market breath was negative with 14 advancers and 37 decliners, bringing year to date to 40.09 per cent.
An analysis of the investment showed that NCR led gainers table with 10 per cent to close at N37.40 per unit, followed with Royal Express with 7.57 per cent to close at N1.99 per unit, C&I Leasing added 6.00 per cent to close at N5:30 per share, Living Trust Insurance gained 3.87 per cent to close at N3.49 per share, RTBriscoe up by 3.55 per cent to close at N3.50 per unit.
On the contrary, Omatek and Neimeth international Pharmaceutical topped losers chart, dropping by 10 per cent each to close at N1.17 per unit and N4.95 per share respectively.Tantalizer down by 9.75 per cent to close at N2.50 per share, International General Insurance dipped by 9.62 per cent to close at N2.35 per shares while Wema Bank down by 8.62 per cent to close at N18.00 per unit.
Transactions in the share of Fidelity Bank with 54.261 million shares valued at N1.031 billion, FCMB group followed with 30.341 million shares worth N314.930 million, Tantalizer traded 29.729 million share valued at N77.504 million, GTCO Plc exchanged 25.657 million shares cost N2.154 billion, while Access Bank traded 17.936 million shares cost N378.508 million.
