Equity market sheds N114bn

Trading activities on the floor of Nigerian Exchange sustained a declining profile, shedding N114 billion.

Losses were recorded in the shares of Dangote Sugar, Eterna Plc, Wapco, Afriprudential, AIICO Insurance in the market.

Market capitalisation of listed equities depreciated by 0.20 per cent to N56.458 trillion from N56.572 trillion reported the previous day.

The NGX All Share Index also went down by 201.16 basis points to 99805.95 points from 100007.11 points it traded the previous day.

As a result, year to date return stood at 33.48 per cent as NGX printed 28 gainers against 24 losers.

An analysis of the investment showed that Champion Breweries led gainers table, appreciating by 9.97 per cent to close at N3.31 per unit, Cadbury Nigeria followed with a gain of 9.94 per cent to close at N18.25 per share, Eterna Plc gained 9.87 per cent to close at N16.70 per share, International General Insurance up by 9.86 per cent to close at N1.56 per share, UPDC REIT increased by 9.64 per cent to close at N4.55 per unit.

On the contrary Afriprudential topped losers’ chart, dropping by 10 per cent to close at N8.10 per share, UAC Nigeria trailed with a loss of 7.08 per cent to close at N14.00, RTBriscoe down by 7.14 per cent to close at N0.65 per share, Ikeja Hotel dipped by 5.41 per cent to close at N7.00 while AIICO Insurance down by 5.17 per cent to close at N1.10 per share.

Volume of trades declined by 267.294 million representing 38.74 per cent as investors traded 423.688 million shares valued at N53.956 billion in 8256 deals against 689.982 million shares worth N7.165 billion exchanged hands in 9635 deals.

Transactions on the shares of Transpower led market activities with 118.630 million shares valued at N48.987 billion, VeritasKapital followed with account of 36.300 million shares valued at N47.253 million Fidelity Bank traded 33.693 million shares cost N340.623 million, AIICO Insurance exchanged 25.803 million shares cost N28.730 million while GTCO Plc sold a total of 23.599 million shares valued at N1.084 billion.