Equity market sheds N142bn

The local equity market on Thursday returned to negative performance, shedding N142 billion.

Although the market recorded higher gains during the day, losses in the shares of AccessCorp, GTCO Plc, Oando Plc, Presco Plc, UBA UACN wiped out gains in the shares of Cadbury Nigeria Plc, Dangote Sugar, Eunisell, Honey Well Flour, SUNU Assurance at the of the day forcing the market to took negative direction.

Market capitalisation of listed equities declined by 0.24 per cent to N59.391 trillion from N59.533 trillion reported the previous day.

The NGX All Share Index also depreciated by 234.95 basis points to 97992.55 points from 98227.50 points recorded on Wednesday.

An analysis of the investment showed that Austinlaz led gainers’ table with 10 per cent to close at N2.42 per unit, Eunisell Plc followed with a gain of 9.98 per cent to close at N17.52 per unit, HMCall gained 9.95 per cent to close at N4.64 per unit, Honey Well Flour added 9.93 per cent to close at N4.98 per share, SUNU Assurance added 9.93 per cent to close at N2.99 per unit.

On the contrary, Wapic Insurance recorded the highest loss during the day, shedding 9.82 per cent to close at N1.01 per share, UPL trailed with a loss of 9.09 per cent to close at N3.50 per unit, Sovereign Trust Insurance declined by 8.96 per cent to close at N0.61 per share, Universal insurance went down by 8.82 per cent to close at N0.31 per share, Japaul Gold dipped by 8.26 per cent to close at N2.11 per unit.

Volume of trades increased by 97.153 million, representing 26.22 per cent as investors traded 467.675 million shares valued at N9.590 billion in 10659 deals against 370.517 million worth N8.448 billion in 10026 deals Transactions in the shares of FBNHoldings led market activities with 51.107 million shares valued at N1.379 billion, Tantalizer followed with account of 48.780 million shares worth N52.530 million, Wapic Insurance traded 39.670 million shares cost N2.314 billion, Fidelity Bank traded 26.621 million shares cost N429.989 million, Zenith Bank traded 22.321 million shares worth N997.672.