Bears return as equity market dips by N28bn 

Transaction on the floor of Nigerian Exchange on Wednesday returned to negative trend, shedding N28 billion following a decline in the share price of Transnational Corporation of Nigeria (Transcorps), Zenith Bank, FTNCocoa among impacted negatively on the market.

Market capitalisation of listed equities went down by 0.08 per cent to N36.362 trillion from N36.390 trillion reported the previous day.

The NGX All Share Index also depreciated by 50.81 basis points to 66439.53 points from 66490.34 points reported the previous day.

An analysis of the investment showed that Chi Plc and Cap Hotel led gainers table in percentage terms, gaining 10 per cent each to close at N1.10 and N2.75 per share respectively. UPL followed with a gain of 9.77 per cent to N2.36 per unit, Champion Breweries gained 9.72 per cent to close at N3.50  per share, Thomas Way added 9.60 per cent to close at N2.17 per share.

On the contrary, Transnational Corporation of Nigeria recorded the highest loss with 9.99 per cent to close at N6.31 per unit, Ikeja Hotel trailed with a drop of 9.88 per cent to close at N3.65 per unit, FTNCocoa fell by 8.11 per cent to close at N2.04 per unit, RTBriscoe down by 6.67 per cent to close at N0.42 per share.

Volume of trades during the day decreased by 200.237 million, representing 45.82 per cent as investors traded 637.193 million shares valued at N7.790 billion in 10033 deals against 436.956 million shares worth N7.013 billion exchanged hands the previous day in 7932 deals.

Transnational Corporation of Nigeria led market activities with 292.409 million shares worth N2.146 billion, AccessCorp followed with account of 26.652 million shares worth N435.491 million, Dangote Sugar Refinery exchanged 24.452 million shares worth N1.454 billion, Jaiz Bank traded 18.662 million shares cost N27.723 million while Fidelity Bank exchanged 17.386 million shares worth N122.281 million

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