Equities market drops further by N19bn
The equities market of the Nigerian Exchange Limited (NGX), on Wednesday depreciated by N19 billion amid continuous profiting taking activities.
Market capitalisation lost N19 billion to close at N28.423 trillion, while the NGX All Share Index (ASI) decreased by 35.28 basis points or 0.07 per cent to close at 52,721.34 points.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nigerian Exchange Group (NGX Group), Bergewr Paints Nigeria, Lafarge Africa, Fidson Healthcare and May & Baker Nigeria.
Also, market breadth closed negative, with 23 losers versus 21 gainers. McNichols Plc recorded the highest price gain of 9.94 per cent, to close at N1.77, per share. Transcorp Hotel followed with a gain of 9.84 per cent to close at N5.36, while Champion Breweries appreciated by 7.03 per cent to close at N3.96, per share.
Consolidated Hallmark Insurance went up by 6.56 per cent to close at 65 kobo, while Multiverse Mining and Exploration appreciated by 4.76 per cent to close at 22 kobo, per share.
On the other hand, Academy Press led the losers’ chart by 9.93 per cent, to close at N1.36, per share. Berger Paints Nigeria followed with a decline of 8.86 per cent to close at N7.20, while Neimeth International Pharmaceuticals went down by 8.57 per cent to close at N1.60, per share.
May & Baker Nigeria lost 8.51 per cent to close at N4.30, while Wema Bank shed 7.61 per cent to close at N3.28, per share.
The total volume traded slumped by 53.77 per cent to 611.974 million shares, worth N7.426 billion and traded in 5,948 deals.
Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 153.336 million shares valued at N1.897 billion. Jaiz Bank followed with 116.642 million shares worth N104.480 million, while Guaranty Trust Holding Company (GTCO) traded 65.930 million shares valued at N1.577 billion.
FCMB Group traded 43.485 million shares valued at N152.172 million, while Transnational Corporation of Nigeria (Transcorp) transacted 40.734 million shares worth N57.855 million.
