Local market sheds N1bn 

By Omeiza Bilal

Trading activities on the floor of Nigerian Exchange on Wednesday depreciated by N1 billion as bears dominated in the market.

Market capitalisation of listed equities Wednesday declined by 0.002 per cent to N55.871 trillion from N55.872 trillion it closed the previous day.

The NGX All Share Index also dropped by 1.74 basis points to 102106.31 points from 102108.05 it closed previously.

An analysis of the investment showed that Meyer Paint led gainers table with 10 per cent to close at N5.72 per share, Tripple G followed with a gain of 9.84 per cent to close at N4.13 per unit, Juli Pharmaceutical added 9.09 per cent to close at N0.84 per share, Cornerstone up by 8.78 per cent to close at N2.23 per unit, AfriPrudential increased by 8.70 per cent to close at N8.75 per unit.

On the contrary AIICO Insurance recorded highest loss during the day, shedding 9.92 per cent to close at N1.18 per unit, Cadbury Nigeria Plc trailed with a loss of 9.50 per cent to close at N21.90 per share, Guinea Insurance down by 8.93 per cent to close at N0.51 per share, Tantalizer dropped by 8.70 per cent to N0.42 per unit, Honey Well flour fell by 6.96 per cent to close at N4.01 per unit.

Volume of traded went down by 152.271 million, representing 30.81 per cent as investors traded 341.923 million shares valued at N6.405 billion in 9665 deals against 494.194 million shares worth N7.596 billion exchanged hands the previous day in 11761 deals.

Transactions in the shares Transnational Corporation of Nigeria led market activities with 39.900 million shares valued at N548.882 million, FBNHoldings followed with account of 33.609 million shares cost N840.594 million, GTCO Plc traded 26.947 million shares valued at N1.018 billion, United Bank for Africa sold a total of 23.947 million shares valued at N598.174 million, Fidelity Bank exchanged 18.254 million shares cost N211.381 million.