Equity market closes lower, sheds N150bn
Transaction on the floor of Nigerian Exchange NGX on Tuesday closed southward, declining by N150 billion.
Market capitalization of listed equities depreciated by 0.19 per cent to N75.801 trillion from N75.951 trillion reported the previous day.
The NGX All Share Index also depreciated by 237.34 basis points to 119741.23 points from 119978.57 points reported on Monday.
Although the market recorded more advancers than decliners, the losses in the shares of some highly capital and medium stocks wipe out all the gains recorded during the day.
As a result, year to date return went down to 16.34 per cent as 47 companies took positive direction against 23 losers.
A review of trading during the day showed that Four companies led gainers table with 10 per cent. Honey Well Flour, Mcnichols gained 10 per cent each to close at N23.65 and N2.53 per share respectively. RTBriscoe and Mutual Benefits also appreciated by 10 per cent each to close respectively in N2.75 and N1.21 per share, Lasaco Insurance followed with a gain of 9.96 per cent to close at N2.98 per unit.
On the contrary, UPL topped losers’ chart, dropping by 10 per cent to close at N5.04 per share, Scoa Plc trailed with a loss of 9.83 per cent to close at N4.86 per share, Thomas Way dipped by 9.57 per cent to close at N1.70 per unit, PZ Cusson sheds 7.89 per cent to close at N35.00, Chams Plc depreciated by 6.38 per cent to close at N2.20 per unit.
Volume of trades declined by 1.504 billion, representing 74.08 per cent as investors traded 527.079 million shares valued at N11.277 billion in 21546 deals against 2.031 billion shares worth N44.336 billion exchanged hands the previous day in 25125 deals.
Transactions in the shares of EllahLakes led market activities with 46.050 million shares valued at N385.120 million, UPDC followed with account of 38.509 million shares valued at N119.659 million, Universal insurance traded 30.385 million shares worth N18.195 million, Nigerian Breweries exchanged 28.904 million cost N1.747 billion while Japaul Gold traded 21.752 million shares worth N52.198 million.
