Local equities decline N110bn amid profit taking
Agency Report
Transactions on the floor of Nigerian Exchange (NGX) on Wednesday sustained negative performance, declining by N110 billion.
Market Capitalisation of listed equities fell by 0.07 per cent to N162.385 trillion from N162.495 trillion it closed on Tuesday.
The NGX All Share Index depreciated by 176.75 basis points to 250096.75 points from 250273.50 traded the previous day.
The market breath was negative with 23 advancers against 30 decliners, bringing year to date return lower to 60.72 per cent.
The negative performance recorded during the day was supported by losses in small ,medium and large stocks like Japaul Gold, Neimeth International pharmaceutical,Wema Bank, Oando Plc, TransCorp, GTCO Plc UBA, Access Holdings Company, Living Trust among others.
A review of the trading showed that Tripple G led gainers table with 9.96 per cent to N3.09 per unit, CMFC followed with a gain of 9.86 per cent to close at N4.01 per unit, Champion Breweries added 9.50 per cent to close at N10.95 per unit, Wapic Insurance gained 9.24 per cent to close at N2.60 per unit, Multitrex increased by 8.33 per cent to close at N0.39 per unit.
On the contrary, Thomas Wyatt topped losers chart, dropping by 9.74 per cent to close at N2.41 per share, C &I Leasing trailed with a loss of 9.35 per cent to close at N4.85 per share Sovereign Trust Insurance down by 7.60 per cent to close at N2.31 per unit, Living Trust declined by 7.25 per cent to close at N3.20 per unit, Neimeth International pharmaceutical companies dropped by 4.61 per cent to close at N7.25 per share.
An analysis of the trading showed that the volume of trades went down by 132.254 million representing 22.83 per cent as investors traded 447.00 million shares against 579.254 million shares reported the previous day. The value of transactions also fell by 36.38 per cent to N22.95 billion in 38905 deals.
Transactions in the shares of Zenith Bank led market activities with 34.900 million shares worth N4.742 billion, CMFC followed with account of 32.445 million shares valued at N124.311 million, Sovereign Trust Insurance traded 24.313 million shares cost N61.567 million, Access Holdings company exchanged 20.662 million shares cost N620.697 million, GTCO traded 19.949 million valued at N2.634 billion.
