Bears return as equity market sheds N162bn

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The nation’s domestic equity on Wednesday turned bearish, shedding N162 billion.

Market capitalisation of listed equities declined by 0.53 per cent to N30.238 trillion from N30.400 trillion reported on Tuesday.

The NGX All Share Index also depreciated 297.65 basis points to 55508.61 points from 55806.26 points recorded the previous day.

A review of the Investment showed that Veritas Kapital led gainers table in percentage terms, gaining 10 per cent to close at N0.22 per share, Ardova Plc followed with a gain of 9.76 per cent to N18.55 per unit, Wema Bank appreciated by 8.75 per cent to N4.35 per share, TIP gained 8.33 per cent to N0.52 per share, Geregu Power added 8.20 per cent to close at N288.10 per unit.

On the contrary, John Holt topped losers chart, dropping by 9.66 per cent to N1.59 per unit, Ecobank Transnational Corporation trailed with a loss of 7.69 per cent to N12.00, Airtel Africa Plc fell by 5.25 per cent to close at N1535.00 per share, United Capital dipped by 3.91 per cent to close at N14.75 per unit, FTNCocoa sheds 3.45 per cent to close at N0.28 per share.