Domestic equity sustains bearish run, sheds N156bn


The domestic equity market sustained a bearish trend on fourth consecutive day as All Share Index declined by 297.41 basis points.

The NGX All Share depreciated by 0.30 per cent to 103437.67 points from 103736.08 recorded on Thursday.

Market capitalisation of listed equities also decreased by  N156 billion or 0.30 per cent to N58.497 trillion from N58.653 trillion reported the previous day.

As a result year to date return declined to 38.33 per cent as NGX printed 16 gainers against 30 losers.

The local equity went down by N598 billion between Monday and Friday while the index down 1080.47 basis points within the same period.

An Cutix Plc led gainers table with 10 per cent to close at N3.19 per share, Tantalizer followed with a gain of 8.57 per cent to close at N0.38 per unit, C&I Leasing added 5.71 per cent to close at N3.70 per share, Dangote Sugar increased 5.36 per cent to close at N59.00 per unit, RTBriscoe up by 5.36 per cent to close at N0.59 per unit.

On the contrary, 

CWG topped losers chart, declining 10 per cent to close at N6.75 per share, NSLTech trailed with a loss of 9.38 per cent to close at N0.58 per unit, Omatek dipped by 9.30 per cent to close at N0.78 per shares SCOA down by 8.90 per cent to close at N2.15 per share, UPDC recorded loss of 7.43 per cent to close at N1.37 per unit.

Despite negative market sentiment trading activities level on the Exchange demonstrated improvement with the total volume increased by 1.753 billion or 359.48 per cent as investors traded 2.241 billion worth N18.729 billion in 8527 deals against 487.728 million shares cost N15.639 billion exchanged hands the previous day in 8908 deals.

Transactions in the shares of Abbey Building Society led market activities with 1.402 billion worth N3.451 billion, Tourist followed with 419.408 million shares valued at N1.887 billion, Zenith Bank traded 86.218 million shares cost N3.660 billion, GTCO Plc exchanged 58.447 million shares valued at N2.807 billion while United Bank for Africa traded 51.378 million shares cost N1.354 billion.