Bears returns as equity market sheds N30bn

Transactions on the floor of Nigerian Exchange NGX) yesterday returned to bearish trend, shedding N30 billion on lower volume.

Market Capitalisation declined by 0.14 per cent to close at N20.273 trillion from N20.303 trillion reported the previous day

The NGX All Share Index also depreciated by 57.03 basis points to 38911.31 points from 38968.34 points reported on Wednesday.

Investors transacted 130.202 million shares valued at N1.427 billion in 2962 deals against 141.407 million shares worth N2.973 billion exchanged hands in 3079 deals.

An analysis of the investment showed that Unity Bank Plc led gainers table during the day, improving by 9.62 per cent to N19.57, FTNCocoa followed with a gain of 8.70 per cent to N0.50 , Cornerstone Insurance gained 8.33 per cent to N0.52, Chams Plc added 5.00 per cent to N0.21, Sovereign Trust Insurance up by 4.17 per cent to close at N0.25.

Eterna Plc on the contrary, recorded the highest loss during the day, declining by 9.44 per cent to N6.52, SCOA Plc trailed with a loss of 9.40 per cent to N1.06, International Breweries fell by 4.00 per cent to N4.80, Honey Well Flour dipped by 3.93 per cent to N3.91, Union Bank of Nigeria fell by 3.0 per cent to N4.85.

The result further showed that Access Bank Plc was the toast of investors during the day, trading 24.776 million shares valued at N230.255 million, Universal Insurance followed with account of 15.265 million shares valued at N3.053 million, Zenith Bank traded 8.491 million shares valued at N200.665 million, GTCo sold a total of 6.753 million shares cost N182.783 million, Japaul Gold Exchanged 5.985 million shares worth N2.992 million.