Equities market drops by 0.05% on investors sell-off in Aradel Holdings, 27 others
The local equities market on Thursday closed on a negative note following share price depreciation in Aradel Holdings Plc and 27 others.
The Nigerian Exchange Limited All-Share Index (NGX ASI) declined by 47.93 basis points or 0.05 per cent, to close at 102,788.20 basis points. However, the overall market capitalisation value gained N1 billion to close at N63.148 trillion.
On market outlook, Afrinvest Limited said, “we anticipate the negative momentum to persists tomorrow owing to cautious trading strategy by large portfolio managers as market await clarity on how the ongoing CPI rebasing exercise would impact inflation and monetary policy rate trajectory for the year.”
Investor sentiment, as measured by market breath, remained unchanged as 28 stocks gained, while 28 lost. SCOA Nigeria recorded the highest price gain of 9.76 per cent to close at N3.60, per share. DAAR Communications followed with a gain of 9.09 per cent to close at 84 kobo, while May & Baker Nigeria rose by 8.43 per cent to close at N9.00, per share.
Prestige Assurance up by 6.82 per cent to close at N1.41 and Red Star Express appreciated by 4.99 per cent to close at N5.05, per share.
On the other hand, Morison Industries led the losers’ chart by 9.98 per cent to close at N3.61, per share. C&I Leasing followed with a decline of 9.91 per cent to close at N3.91, while Ikeja Hotel lost 8.89 per cent to close at N12.30, per share.
NEIMETH International Pharmaceuticals down by 8.51 per cent to close at N3.44, while SUNU Assurance declined by 8.03 per cent to close at N5.50, per share.
The total volume traded declined by 3.1 per cent to 394.358 million units, valued at N22.777 billion, and exchanged in 12.160 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 42.145 million shares valued at N2.567 billion. United Bank for Africa (UBA) followed with 37.446 million shares worth N1.296 billion, while Zenith Bank traded 25.155 million shares valued at N1.217 billion.
Access Holdings traded 24.337 million shares valued at N601.569 million, while Jaiz Bank transacted 13.840 million shares worth N41.413 million.
