Bears dominate equity market, sheds N67bn

Domestic equity market Thursday sustained its bearish run, shedding N67 billion as losses recorded in the shares price of small and medium size stocks impacted negatively on the market.

Market capitalisation of listed equities declined by 0.18 per cent to N36.856 trillion from N36.923 trillion reported in the previous day.

The NGX All Share Index also depreciated by to 67084.95 points from 67206.16 points traded the previous day.

A review of the investment showed that Mcnichols led gainers table in percentage terms with 8.93 per cent to close at N0.61 per shares, UACN followed with 6.09 per cent to close at N12.20 per share, Oando Plc added 4.07 per cent to close at N8.95 per unit, Chams Plc gained 3.65 per cent to close at N1.99 per share, Nestle Nigeria Plc increased by 2.94 per cent to close at N1050.00 per unit.

On the contrary, NSLTECH topped losers chart, declining by 10 per cent to close at N0.27 per share, CWG trailed with trailed 9.94 per cent to close at N7.70 per share, Thomas Way fell by 9.84 per cent to close at N4.03 per unit, International Breweries down 9.78 per share to close at N4.15 per share while Universal Insurance dipped by 8.33 per cent to close at N0.22 per share.

Volume of trades declined by 62.007 million , representing 18.8 per cent as investors traded 267.653 million shares valued at N5.110 billion in 5205 deals against 329.660 million shares cost N4.410 billion exchanged hands the previous day in 5998 deals.