Equities market down by N97bn to sustain bearish trend  

Bearish sentiment persisted on equities market of Nigerian Exchange Limited (NGX) on Thursday as market capitalisation dropped by N97billion.

The All Share Index (ASI) down by 176.32 basis points or 0.27 per cent to close at 64,448.96 points. Also, market capitalisation declined by N97 billion to close at N35.273 trillion.

Investor sentiment, as measured by market breadth closed positive as 20 stocks advanced, compared to 17 declined. John Holt recorded the highest price gain of 10 per cent to close at N1.32, per share. Computer Warehouse Group (CWG) followed with a gain of 9.76 per cent to close at N3.60, while Prestige Assurance rose by 8.33 per cent to close at 52 kobo, per share.

Cutix up by 8.00 per cent to close at N2.70, while Linkage Assurance appreciated by 7.69 per cent to close at 98 kobo, per share.

On the other hand, Guinea Insurance led the losers’ chart by 8.57 per cent to close at 32 kobo, per share. R.T. Briscoe Nigeria followed with a decline of 8.16 per cent to close at 45 kobo, while Consolidated Hallmark Insurance declined by 7.61 per cent to close at 85 kobo, per share.

SUNU Assurance depreciated by 6.98 per cent to close at 80 kobo, while DEAP Capital Management & Trust declined by 6.67 per cent to close at 28 kobo, per share.

The total volume traded advanced by 9.8 per cent to 320.35 million units, valued at N3.73 billion, and exchanged in 5,176 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 80.046 million shares valued at N595.544 million. Transnational Corporation (Transcorp) followed with 34.269 million shares worth N137.207 million, while United Bank for Africa (UBA) traded 24.398 million shares valued at N340.020 million.

Universal Insurance traded 22.430 million shares valued at N5.062 million, while FBN Holdings (FBNH) sold 19.097 million shares worth N353.481 million.