Equities market shed N2.28trn
The local equities market on Wednesday sustained bearish run, declining by N2.280 trillion as bears dominated trading activities during the day.
Market capitalization of listed equities went down by 1.44 per cent to N155.939 trillion from N158.219 trillion reported the previous day.
The NGX All Share Index also depreciated by 3551.05 basis points to 243135.61 points from 246686.66 recorded the previous trading day.
The negative performance recorded during the day was driven losses in the shares of MTN Nigeria, GTCO Plc, FirstHoldco, NGX group, Zichis, Zenith Bank, Wapco and 36 other companies.
The market breath was negative with 15 advancers against 43 decliners,bringing year to date return to 56.24 per cent.
An analysis of the trading showed that Abbey Building Society led gainers table with 9.93 per cent to close at N7.75 per unit, International General Insurance followed with a gain of 9.87 per cent to close at N6.00 per share, Tripple G added 9.80 per cent to close at N4.37 per share, Universal Insurance gained 8.91 per cent to close at N1.10 per unit, Royal Express grew by 7.14 per cent to close at N1.50 per unit.
On the contrary, Mcnichols topped losers chart dropping by 10 per cent to close at 7.74 per cent , Wapco Nigerian Plc trailed with 9.97 per cent to close at N307.90 per share, Redstarex down by 9.93 per cent to close at N27.65 per share, Zichis Agro Allied industries declined by 9.82 per cent to close at N29.20 per unit while LearnAfrica and John fell by 9.80 per cent each to close at N11.50 and N13.80 per unit.
Volume of trades up by 203.912 million, representing 28.37 per cent as investors traded 922.868 million shares againstb718.744 million recorded on Tuesday. Value of transactions grew by 45.56 per cent to settle at N42.270 billion.
Transactions in Sterling Holding Company led market activities accounting for 256.289 million shares valued at N2.048 billion, Access Holdings Company followed with account of 70.148 million shares cost N1.677 billion, Linkage Assurance traded 54.407 million shares valued at N978.529 million, VFD group exchanged 35.225 million shares cost N376.318 million, EllahLakes traded 32.381 million shares cost N326.960 million.
