Equity market closes lower, sheds N2bn

Market capitalisation of listed equities declined marginally by N2 billion  to N25.957 trillion from N25.958 trillion reported the previous day.

The NGX All Share Index also depreciated by 3.40 basis points to 47656.64 points from 47660.04 points traded Wednesday.

Investors traded 172.895 million shares valued at N2.843 billion in 3073 deals against 107.019 million shares worth N1.318 billion in 3227 deals.

The NGX trading activities showed that UPDCReits led gainers table during the day, gaining 9.09 per cent to N3.00, Mcnichols followed with a gain of 8.93 per cent to N0.61, Japaul Gold gained 7.41 per cent to N0.29, Nigerian Breweries added 7.14 per cent to N45.00, Royal Exchange gained 4.76 per cent to N0.66.

On the contrary, Honey Well Flour Mill topped losers, shedding 7.89 per cent to N2.10, RTBriscoe trailed with a loss of 7.41 per cent to N0.25, Wema Bank gained 5.45 per cent to N3.12, FCMB group added 4.18 per cent to N3.21, Cutix Plc down by 2.84 per cent to N2.05.

The result further showed that FCMB group was the toast of investors during the day, exchanging 49.801 million shares valued at N172.789 million, Courtvellle Business Solutions followed with account of 16.684 million shares cost N8.432 million, AccessCorp traded 11.962 million shares valued at N102.99 million, United Bank for Africa sold a total of 10.768 million shares cost N79.370 while Zenith Bank exchanged 9.785 million shares valued at N221.417 million.

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