Equity market closes lower, sheds N130bn
Trading charts and data background on pixelated screen
Trading activities on the floor of Nigerian Exchange (NGX) on Thursday returned to bearish trend, depreciating by N130 billion as profit taking in the shares of Oando, FBNHoldings, GTCO Plc, Flour Mills Nigeria Plc, Wapco and others impacted negatively on the market performance.
Market capitalisation of listed equities declined by 0.23 percent to N56.316 trillion from N56.446 trillion reported the previous day.
The NGX All Share Index also went down by 227.17 basis points to 98003.75 points from 98230.92 points recorded the previous day.
As a result year to date return went down to 31.13 per cent as the NGX printed 26 losers against 25 gainers.
An analysis of the transactions during the day showed that ABC Transport and Mcnichols led gainers table with 10 per cent each to close at N0.99 and N1.65 per share respectively.
UPL followed with 9.95 per cent to close at N2.43 per unit, Fidson gained 9.85 per cent to close at N14.50 per share Caverton Business Solutions increased by 9.80 per cent to close at N3.36 per share.
On the contrary, Honey Well Flour topped losers chart, dropping by 9.98 per cent to close at N4.87 per unit, FBNHoldings followed with account of 9.88 per cent to close at N30.55 per share, UPDC down by 9.74 per cent to close at N1.76 per share, NSL Tech dipped by 8.82 per cent to close at N0.62 per unit, Tantalizer dipped by 8.82 per cent to close at N0.62 per unit.
Volume of trades increased by 111.789 million, representing 30.94 per cent as investors traded 473.091 million shares valued at N11.359 billion in 9848 deals against 361.302 million shares valued at N7.566 billion in 9627 deals.
The result further showed that trading in the shares of Japaul Gold led market activities with 106.663 million shares valued at N259.892 million, UACN followed with account of 57.853 million shares cost N1.187 billion, Fidelity Bank traded 48.729 million shares worth N599.420 million, Honey Well Flour traded 26.084 million shares cost N139.333 million while Dangote Cement exchanged 16.114 million shares worth N483.545 million.
