Equities market sustains investors profit-taking, drops by 0.04%

The bearish run in the equities market of the Nigerian Exchange Limited (NGX) continued yesterday as the All-Share Index dipped by 0.04 per cent.

The All Share Index (ASI) decreased by 23.25 basis points or 0.04 per cent to close at 53,170.73 basis points. Similarly, the market capitalisation lost N12 billion to close at N28.665 trillion.

Market breadth closed negative, with 17 losers versus 15 gainers.

University Press recorded the highest price gain of 9.43 per cent to close at N2.90, per share. Cornerstone Insurance followed with a gain of 8.93 per cent to close at 61 kobo, while Ellah Lakes appreciated by 7.89 per cent to close at N3.69, per share.

International Breweries went up by 4.23 per cent to close at N7.40, while Regency Alliance Insurance appreciated by 3.70 per cent to close at 28 kobo, per share.

On the other hand, C&I Leasing led the losers’ chart by 8.57 per cent to close at N3.20, per share. FTN Cocoa processors followed with a decline of 8.33 per cent to close at 33 kobo, while Ikeja Hotel went down by 3.23 to close at N1.20, per share.

Glaxosmith lost 2.74 per cent to close at N7.10, while Zenith Bank shed 2.35 per cent to close at N22.85, per share.

However, the total volume traded rose by 27.90 per cent to 318.418 million shares, worth N3.339 billion, and traded in 4,345 deals.

Transactions in the shares of Transnational Corporation of Nigeria (Transcorp) topped the activity chart with 165.206 million shares valued at N225.901 million. Guaranty Trust Holding Company followed with 22.222 million shares worth N493.111 million, while  United Bank for Africa (UBA) traded 19.099 million shares valued at N148.609 million.

FBN Holdings (FBNH) traded 13.344 million shares valued at N135.153 million, while Zenith Bank transacted 12.576 million shares worth N290.713 million.