Bears resurface as equity market sheds N192bn

Trading activities on the floor of Nigerian Exchange on Thursday closed lower shedding N192 billion. 

Market capitalization of listed equities dropped by  0.49 per cent to N39.102 trillion from N39.294 trillion reported the previous day.  The NGX All Share Index also depreciated by  350.72 basis points to 71457.92 points from 71808.64 points traded on Wednesday. 

 Volume of transactions went down by 253.453 million, representing a drop of 36.73 per cent as investors traded 436.557 million shares valued at N7.548 billion in 7096 deals against 690.010 million shares worth N12.100 billion exchanged hands the previous day in 8412 deals.

An analysis of the investment showed that Multiverse led gainers table with a gain of 9.91 per cent to close at N8.54 per unit, Mansard Insurance and SCOA Plc followed with a gain of 9.76 per cent each  to close at N4.50 and N1.35 per share respectively. Infinity Savings and TIP added 9.52 per cent each to close respectively at N1.61 per share and N1.15 per unit.

On the contrary, FBNHoldings  topped losers chart in percentage terms, dropping by 9.86 per cent to close at N26.50 per share, NSLTECH trailed with a loss of 9.64 per cent to close at N0.75 per share, Deep Capital declined by 9.46 per cent to close at N0.67 per unit, Champion Breweries fell by 7.04 per cent to close at N3.30 per unit, Tantalizer dipped by 6.00 per cent to close at N0.47 per unit.

Transactions in the shares of Universal Insurance recorded the highest volume of activities accounting for 52.725 million shares valued at N13.497 million, Veritas Kapital followed with account of 44.573 million shares cost N15.322 million, Nigerian Breweries exchanged 37.460 million shares worth N1.388 billion , AccessCorp traded 34.650 million shares worth N705.852 million,  Zenith Bank traded 31.620 million shares valued at N1.121 billion.

UNI Agric Markurdi
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