Equities market drops by N11bn on profit-taking in PZ Cussons, 31 others

The domestic equities market on Thursday sustained negative trend, as price decline in PZ Cussons Nigeria Plc and 31 others dragged the overall capitalization lower by N11 billion.

The Nigerian Exchange Limited All-Share Index ( NGX ASI) shed 9.27 basis points or 0.01 per cent to close at 105,525.26basis  points. Also, market capitalisation dipped by N11 billion to close at N66.155 trillion.

Market breadth closed negative, as 20 stocks gained relative to 32 losers. Africa Prudential emerged the highest price gainer of 9.76 per cent to close at N15.75, per share. Guinea Insurance followed with a gain of 9.52 per cent to close at 69 kobo, while DAAR Communications up by 8.33 per cent to close at 65 kobo, per share.

AXA Mansard Insurance rose by 7.87 per cent to close at N9.60, while R.T. Briscoe Nigeria appreciated by 7.14 per cent to close at N2.40, per share. On the other side, Livestock Feeds led others on the losers’ chart with 10 per cent to close at N7.20, per share. PZ Cussons Nigeria followed with a decline of 9.97 per cent to close at N33.40, while Mutual Benefits Assurance declined by 9.35 per cent to close at 97 kobo, per share.

UACN lost 9.23 per cent to close at N29.00, while Secure Electronic Technology depreciated by 9.09 per cent to close at 50 kobo, per share.

The total volume traded decreased by 9.35 per cent to 397.119 million units, valued at N8.743 billion, and exchanged in 13,667 deals. Transactions in the shares of Universal Insurance led the activity with 49.750 million shares worth N29.236 million. Zenith Bank followed with account of 34.935 million shares valued at N1.643 billion, while Royal Exchange traded 33.940 million shares worth N33.935 million.

United Bank for Africa (UBA) traded 33.913 million shares valued at N1.251 billion, while Fidelity Bank traded 30.508 million shares worth N584.641 million.