Bears return as equity market sheds N64bn

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Trading activities on the floor of Nigerian Exchange (NGX) Tuesday returned to a negative trend, declining by N64 billion.

Market capitalisation of listed equities declined by 0.17 per cent to N36.801 trillion from N36.865 trillion reported the previous day.

The NGX All Share Index also depreciated by 116.71 basis points to 66984.62 points from 67101.33 points traded the previous day.

An analysis of the investment indicated that Ncnichols led gainers table in percentage terms, gaining 10 per cent to close at N0.66 per share, Capital Hotel followed with a gain of 9.83 per cent to close N3.02 per unit, Chams Plc added 9.38 per cent to close at N1.40 per unit, ABC Transport added 8.82 per cent to close at N0.74, Oando Plc appreciated by 7.61 per cent to close at N9.90 per share.

On the contrary, JohnHolt topped losers chart dropping by 10 per cent to close at N1.44 per unit, Presco Plc trailed with a loss of 9.54 per cent to close at N182.00, Daar Communication dipped by 8.70 per cent to close at N0.21 per unit, Deep Capital declined by 7.41 per cent to close at N0.25 per share, Jaiz Bank fell by 6.25 per cent to close at N1.50 per share.

Volume of transactions increased by 11.24 million, representing a drop of 4.18 per cent as investors traded 257.423 million shares valued at N7.799 billion in 6498 deals against  268.663 million shares worth N3.463 billion in 6911 deals.

Fidelity Bank led market activities with 53.396 million shares valued at N442.890 million, AccessCorp followed with 31.088 million shares cost N490.503 million, United Bank for Africa exchanged 26.772 million shares cost N459.677 million, Oando Plc traded 13.564 million shares worth N133.363 million while Zenith 11.266 million shares cost N358.983 million.