Bears return as domestic equity loses N883bn

Trading activities on the floor of Nigerian Exchange on Wednesday returned to bearish trend, declining by N883 billion following loss recorded by some medium and large stocks Market capitalisation of listed equities declined by 2.47 per cent to close at N34.874 billion from N35.757 trillion traded the previous day.

The NGX All Share Index also depreciated by 1622.36 basis points from 65669.29 points traded the previous day.

An analysis of the investment showed that Deap Capital and Courtvellle Business Solutions led gainers table in percentage terms during the day, gaining 10 per cent each to close at N0.33 and N0.88 per cent respectively.

Gold Breweries followed with a gain of 9.88 per cent to close at N2.67 per share, TIP gained 9.80 per cent to close at N0.56 per share, Morison added 9.79 per cent to close at N2.58 per unit.

The NGX trading result showed that five listed companies declined by 10 per cent at the close of trading on Wednesday.

Transnational Corporation of Nigeria (Transcorps), Veritas Kapital Plc, ABC Transport declined by 10 per cent to close at N4.23 per unit, N0.35 and N0.45 per share respectively. ETranzact and FBNHoldings fell by 10 per cent to close at N8.55 and N19.35 per share respectively.

Volume of trades increased 318.285 million shares representing 27.37 per cent as Investors traded 1.163 billion shares valued at N12.694 billion against 844.715 million shares worth N9.412 billion exchanged hands the previous day in 8922 deals.