Equity sustains decline profile, sheds N81bn

Trading activities on the floor of Nigerian Exchange (NGX) on Wednesday sustained negative performance, shedding N81 billion.

Market capitalization of listed equities declined by 0.12 per cent to N66.496 trillion from N66.577 trillion reported the previous day.

The NGX All Share Index also depreciated by 130.33 basis points to 105800.85 points from 105931.18 points recorded the previous day.

The year to date return went down to 2.79 per cent as 39 companies closed in green while 25 firms close in red .

An analysis of the investment showed that UPL and Vitafoam led gainers table, appreciating by 10 per cent each to close at N3.74 and N52.80 per unit respectively, Livestock Feeds followed with a gain of 9.97 per cent to close at N8.49 per unit, C&I Leasing added 9.89 per cent to close at N4.00, Mcnichols gained 9.88 per cent to close at N1.89 per unit.

On the contrary International Breweries and Ecobank Transnational topped losers , dropping 10 per cent each to close at N7.38 and N28.80 per share respectively, Ikeja Hotel trailed with a loss of 9.89 per cent to close at N12.30 per share, Cadbury Nigeria Plc dipped 9.80 per cent to close at N29.00 per share, Austinlaz dipped by 9.52 per cent to close at N1.71 per unit.

Volume of trades declined by 340.055 million, representing 46.39 per cent as investors traded 392.996 million shares valued at N12.755 billion in 16619 deals against 733.051 million shares cost N35.288 billion exchanged hands the previous day in 16619 deals.

United Bank for Africa led market activities with 38.858 million shares valued at N1.358 billion, Wema Bank followed with account of 26.616 million shares worth N400.034 million, Fidelity Bank traded 25.392 million shares valued at N525.055 million, Access Holdings company exchanged 25.041 million shares worth N565.192 million, Zenith Bank exchanged 20.706 million shares valued at N992.316 million.