Local equity market loses N6bn

Transactions on the floor of Nigerian Exchange on Wednesday closed on negative note, shedding N6 billion.

Market capitalisation of listed equities declined by 0.02 per cent to N36.923 trillion from N36.929 trillion reported on Tuesday.

The NGX All Share Index also depreciated by 11.61 basis points to 67206.16 points from
67217.77 points reported the previous day.

A review of the investment showed that Multiverse led gainers table, growing by 9.74 per cent to close at N2.93 per share, Chams Plc followed with a gain of 9.71 per cent to close at N1.92 per unit, Caverton Business Solutions added 9.35 per cent to close at N1.52 per unit, FTNCocoa Plc up by 8.97 per cent to close at N1.70 per unit while Geregu powers increased by 7.71 per cent to close at N370.00.

On the contrary, ETranzact and SUNU Assurance recorded the highest loss, shedding 10 per cent each to close at N7.56 and N0.99 per share. Deep Capital trailed with at 7.41 per cent to close at N0.25 per share, Eterna Plc dropped by 7.41 per cent to close at N13.75 per unit United Bank for Africa down by 5.79 per cent to close at N18.75 per share.

Volume of trades increased by 9.756 million, representing 3.05 per cent as investors traded 329.660 million shares valued at N4.410 billion in 5998 deals against 319.904 million shares cost N6.330 billion in 6272 deals. Transactions in the shares of Fidelity Bank led market activities with 50.319 million shares valued at N411.728 million, AccesCorp plc followed with 43.186 million shares worth N30.101 million, Chams Plc traded 26.650 million shares cost N50.127 million, United Bank for Africa exchanged 25.848 million shares cost N502.077 million while GTCO Plc exchanged 20.630 million shares cost N733.793 million.