Equity market sheds N188bn
Trading activities on the floor of Nigerian Exchange (NGX) sustained a negative trend on Thursday, declining by N188 billion.
Market capitalisation of listed equities declined by 0.33 per cent to N56.268 trillion from N56.456 trillion reported the previous day.
The NGX All Share Index also depreciated by 333.18 basis points to 99468.90 points from 99802.08 points traded on Wednesday.
The market’s negative performance was primarily driven by selling pressure in stocks such as Dangote Sugar, AccessCorp, Afriprudential, Oando, Transcorps, Seplat and 12 others.
As a result year to date return declined to 33.03 per cent as 21 companies closed the day in green while 18 firms closed in red.
A review of the investment showed that Linkage Assurance led gainers table, gaining 9.80 per cent to close at N1.12 per share, Daar Communications followed with a gain of 9.62 per cent to close at N0.57 per unit, Vitafoam Nigeria Plc gained 7.61 per cent to close at N21.20 per unit, Livestock Feeds increased by 7.20 per cent to close at N2.20 per unit, Mecure added 4.49 per cent to close at N10.00.
On the contrary, Ikeja Hotel topped losers chart, dropping 9.29 per cent to close at N6.35 per unit, HoneyWell Flour Mills Nigeria Plc trailed with a drop of 8.41 per cent to close at N3.16 per unit, Seplat Energy dipped by 8.30 per cent to close at N34.80 per share, Champion Breweries down by 7.55 per cent to close at N3.06 per unit, SUNU Assurance depreciated by 4.62 per cent to close at N1.24 per share.
Volume of transactions went down by 935.148 million, representing 68.27 per cent as investors traded 296.731 million shares valued at N5.447 billion in 7126 deals against 935.148 million shares costing N11.839 billion exchanged hands the previous day in 8160 deals.
Transactions in the shares of Fidelity Bank led market activities with 46.783 million shares valued at N482.458 million, Linkage Assurance followed with account of 32.122 million shares worth N35.965 million, Access Holdings Company traded 23.234 million shares worth N445.714 million, Transnational Corporation of Nigeria exchanged 22.138 million shares cost N266.063 million while AIICO Insurance exchanged 15.632 million shares cost N17.247 million
