Local equities shed N534bn
Trading on the floor of Nigerian Exchange NGX on Tuesday declined by N534 billion as investors embarked on profit taking activities.
Market capitalization of listed equities declined by 0.55 per cent to N160.094 trillion from N160.982 trillion reported the previous day.
The NGX All Share Index dropped by 1386.03 basis points to settle at 249738.84 points from 251125.02 points it closed on Monday.
The negative performance was supported by loses in the shares of Unilever Nigeria Plc, Transpower, AustinLaz, GTCO Plc among others.
The market dominated with bears, as market breath remains negative with 37 losers against 18 gainers, bringing year to date return to 60.84 per cent.
The volume of trades declined by 136.257 million, representing 21.65 per cent as investors traded 493.173 million shares against 629.425 million reported the previous day while the value of trades went down by 42.28 per cent to settle at N23.616 billion in 61446 deals.
Analysis of the trading showed that Mcnichols and AustinLaz led gainers table with 10 per cent each to close at N7.92 and N4.40 per unit respectively, International General Insurance followed with a gain of 9.89 per cent to close at N4.00 per share, Learn Africa added 9.44 per cent to close at N12.75 per unit, HMCall increased by 8.06 per cent to close at N3.89 per unit.
On the contrary Dangote Suger topped losers chart, dropping by 10 per cent to close at N78.30 per share, TransPower trailed with loss of 9.92 per cent to close at N245.50 per share, TIP Plc down by 9.85 per cent to close at N27.45 per share, Abbey Building Society fell by 9.49 per cent to close at N6.20 per share, Mutual Benefits declined by 8.42 per cent to close at N4.35 per unit, Wapic Insurance fell by 8.18 per cent to close at N2.47 per share.
However, Transactions in the shares of Access Holdings company led market activities with 80.630 million shares valued at N1.983 billion, Zenith Bank followed with account of 33.832 million shares cost N4.466 billion, Mutual Benefits traded 21.806 million worth N138.884 million, Neimeth International pharmaceutical companies traded 22.290 million valued at N232.968 million while Lasaco Insurance exchanged 20.291 million shares cost N416.421 million.
