Equities market sheds N54bn on negative performance
The domestic equity market on Thursday returned to negative performance, shedding N54 billion as losses in the shares of Seplat Energy, GTCO Plc , FirstHoldco,Oando Plc, Access Holdings company wipe out gains recorded in the shares of Mutual Benefits, UPL, Lives Stock Feeds among others.
Market capitalization of listed equities depreciated by 0.08 per cent to N70.510 trillion from N70.564 trillion recorded the previous day.
The NGX All Share Index also declined by 84.53 basis points to 111818.08 basis points from 111902.61 points reported on Wednesday.
The negative performance during the day forcing year to date return down to 8.64 per cent despite the fact that 41 companies closed in green against 24 that closed in red.
A review of trading during the day showed that Mutual Benefits led market activities with 10 per cent to close at N1.10 per unit, UPL followed with a gain of 9.98 per cent to close at N6.17 per share, Academy press up by 8.88 per cent to close at N4.45 per unit, SCOA added 9.62 per cent to close at N4.90 per share, LiveStock feed grew by 9.50 per cent to close at N9.15 per share.
On the contrary, Legend International and Seplat Energy topped losers chart, declining by 10 per cent to close at N6.84 and N4964.40 per share.Abbey Building Society dipped by 9.90 per cent to N6.19 per unit, Omatek declined by 8.97 per cent to close at N0.71 per unit, Lear Africa exchanged 6.21 per cent to close at N4.23 per share.
Volume of trades increased by 44.277 million, representing 8.64 per cent as investors traded 512.447 million shares valued at N17.167 billion in 18505 deals against 512.170 million shares cost N17.115 billion in 16711 deals.
Transactions in the shares of United Bank for Africa led market activities with 82.571 million shares valued at N2.864 billion, Fidelity Bank followed with account of 70.600 million shares worth N1.360 billion , Nigerian Breweries traded 37.207 million shares cost N2.102 billion, Tantalizer traded 36.303 million shares valued at N90.973 million while Zenith Bank exchanged 27.
