Local equities shed N1.922trn

Transactions on the floor of Nigerian Exchange NGX yesterday declined by N1.922 trillion as losses recorded in shares of BuaCement, Wapco,  Zenith other impacted negatively on market performance.

This resulting in Market capitalisation of listed equities depreciating by 1.23 per cent to N153.858 trillion from N155.780 trillion recorded the previous day.

The NGX All Share Index also went down by 2994.93 basis points to 239734.61 points from 242729.54 points reported on Wednesday.

Although the market breath was positive with 41 gainers against 30 decliners, profit taking in some key stock weighs down the trading for day, bringing year to date return to 54.06 per cent.

An analysis of the investment showed that Cap Plc and FTNCocoa led gainers table with a gain of 9.99 per cent each to close at N212.50 and N8.04 per unit respectively. Zichis Agro Allied industries, Meyer Paint and Berger Paint followed with a gain of 9.97 per cent each to close respectively at N30.33, N17.10 and N98.75 per unit.

On the contrary, UPL and Conhall Plc topped losers chart, dropping by 10 per cent each to close at N4.50 and N5.85 per unit respectively, SkyAVN trailed with 8.63 per cent to close at N130.75 per share, C & I Leasing down by 7.84 per cent to close at N7.05 per share, RTBriscoe fell by 7.70 per cent to close at N13.06 per unit.

Volume of trades up by 598.00 million, representing 48.53 per cent as investors traded 1.830 billion shares against 1.232 billion traded the previous day. Value of shares grew by 46.71 per cent to settle at N72.168 billion in 81131 deals.

Trading in the shares of NEM insurance led market activities with 360.379 million shares valued at N7.931 billion, FTGInsurance followed with account of 213.079 million shares cost N228.047 million, VTGgroup exchanged 141.252 million shares cost N1.496 billion, FCMB group traded 119.160 million shares valued at N1.341 billion, Access Holdings Company sold a total of 117.412 million shares cost N2.844 billion.