Equity market remains bearish, sheds N274bn 

Trading on the floor of Nigerian Exchange (NGX) on Thursday concluded the day in a negative direction, dropping by N274 billion as the market dominated by bears.

The market capitalization of the listed equities went down by 0.39 per cent to N68.621 trillion from N68.895 trillion recorded on Wednesday.

The NGX All Share Index also depreciated by 436.38 basis points to 109183.02 points from 109619.40 points traded the previous day.

The market breadth remained negative, with 32 stocks closing lower compared to 25 companies that experienced gains.

Consequently, the Year-to-Date (YTD) return on the Nigerian Stock Exchange (NGX) decreased   to 6.08 per cent.

The losses recorded in the shares of AccessCorp, Dangote Sugar,GTCO, Nigerian Breweries, Transcorp, United Bank for Africa, Zenith among others dragged the market to negative performance.

An analysis of the investment showed that UHOMReit led gainers table with 9.97 per cent to close at N50.25 per unit, Redstarex followed with a gain of 9.91 per cent to close at N6.10 per unit, RTBriscoe added 9.57 per cent to close at N2.29 per unit, Sovereign Trust Insurance increased by 9.38 per cent to close at N1.05 per share, Custodian Insurance up by 9.00 per cent to close at N21.80 per share.

On the contrary, Chellaram Plc and May & Baker topped losers chart, dropping 9.96 per cent each to close at N11.75 and N11.75 respectively.Linkage Assurance trailed with a loss of 9.88 per cent to close at N1.46 per unit, Omatek dipped by 8.82 per cent to close at N0.62 per unit, Mcnichols declined by 8.70 per cent to close at N2.10 per share.

Volume of trading during the day increased by 981.842 million, representing 147.83 per cent as investors traded 1.646 billion shares valued at N19.098 billion in 26176 deals against 664.158 million shares worth N12.996 billion in 19439 deals.

Transactions in the shares of Royal Express led market activities with 903.395 million shares valued at N903.112 million, Fidelity Bank followed with account of 137.414 million shares worth N2.420 billion, Japaul Gold exchanged 81.680 million shares valued at N164.225 million, United Bank for Africa traded 60.777 million cost N2.078 billion, Tantalizer sold a total of 43.499 million shares valued at N111.517 million.

Trading on the floor of Nigerian Exchange (NGX) on Thursday concluded the day in a negative direction, dropping by N274 billion as the market dominated by bears.

The market capitalization of the listed equities went down by 0.39 per cent to N68.621 trillion from N68.895 trillion recorded on Wednesday.

The NGX All Share Index also depreciated by 436.38 basis points to 109183.02 points from 109619.40 points traded the previous day.

The market breadth remained negative, with 32 stocks closing lower compared to 25 companies that experienced gains.

Consequently, the Year-to-Date (YTD) return on the Nigerian Stock Exchange (NGX) decreased   to 6.08 per cent.

The losses recorded in the shares of AccessCorp, Dangote Sugar,GTCO, Nigerian Breweries, Transcorp, United Bank for Africa, Zenith among others dragged the market to negative performance.

An analysis of the investment showed that UHOMReit led gainers table with 9.97 per cent to close at N50.25 per unit, Redstarex followed with a gain of 9.91 per cent to close at N6.10 per unit, RTBriscoe added 9.57 per cent to close at N2.29 per unit, Sovereign Trust Insurance increased by 9.38 per cent to close at N1.05 per share, Custodian Insurance up by 9.00 per cent to close at N21.80 per share.

On the contrary, Chellaram Plc and May & Baker topped losers chart, dropping 9.96 per cent each to close at N11.75 and N11.75 respectively.Linkage Assurance trailed with a loss of 9.88 per cent to close at N1.46 per unit, Omatek dipped by 8.82 per cent to close at N0.62 per unit, Mcnichols declined by 8.70 per cent to close at N2.10 per share.

Volume of trading during the day increased by 981.842 million, representing 147.83 per cent as investors traded 1.646 billion shares valued at N19.098 billion in 26176 deals against 664.158 million shares worth N12.996 billion in 19439 deals.

Transactions in the shares of Royal Express led market activities with 903.395 million shares valued at N903.112 million, Fidelity Bank followed with account of 137.414 million shares worth N2.420 billion, Japaul Gold exchanged 81.680 million shares valued at N164.225 million, United Bank for Africa traded 60.777 million cost N2.078 billion, Tantalizer sold a total of 43.499 million shares valued at N111.517 million.