Trading activities on the floor of Nigerian Exchange on Wednesday returned to negative trend, declining by N638 billion as a result of profit taking embarked upon by investors thereby impacting negatively on the market index.
The NSE trading result showed declines in the shares prices of BUA Cement, MTN Nigeria, United Bank for Africa, United Capital, Unilever Nigeria Plc, Zenith, GTBank, FBNHoldings, Eterna Plc and, FTNCocoa and other 52 companies dragged the market down.
Specifically, Market capitalisation of listed equities declined by 1.40 per cent to N44.885 trillion from N45.523 trillion reported the previous day while the NGX All Share Index also depreciated by 1167.46 basis points to 82024.38 points from 83191.84 points traded on Tuesday.
An analysis of the investment during the day showed that Cadbury Nigeria Plc led gainers table appreciating by 9.92 per cent to close at N29.95 per unit, Veritas Kapital followed with a gain of 9.76 per cent to close at N0.45 per unit, Linkage Assurance added 8.70 per cent to close at N1.50 per share. Transco Hotel increased by 7.24 per cent to close at N100.00, Prestige insurance gained 6.00 per cent to close at N0.53 per unit.
On the contrary, five companies recorded a 10 per cent decline in their share price at the close of transaction on Wednesday.
Caverton Business Solutions, Chams and May and Baker shed 10 per cent each to close at N2.07, N2.16, N5.49 per share respectively. Conhall Plc, FTNCocoa fell by 20 per cent to close respectively at N1.39 and N1.98 per unit.
Volume of transactions increased by 232 million, representing 16.47 per cent as investors traded 1.641 billion shares valued at N25.377 billion in 20223 deals against 1.409 billion shares worth N24.681 billion exchanged hands the previous day in 17144 deals.
Transactions in the shares of Transcorps led market activities with 117.638 million shares valued at N1.542 billion, AccessCorp followed with account of 116.649 million shares worth N3.258 billion, Sterling Bank sold a total of 116.294 million shares cost N774.996 million, Jaiz Bank exchanged 100.070 million shares cost N282.657 million while AIICO Insurance traded it 91.790 million shares cost N127.858 million .
