Equity market closes lower, sheds N79bn

Trading activities at the Nigerian Exchange (NGX) closed lower Tuesday, shedding N79 billion.

Market capitalisation of listed equities went down by 0.23 per cent to N34.932 trillion from N35.011 trillion reported the previous day.

The NGX All Share Index also depreciated by 145.32 basis points to 64192.20 points from 64337.52 traded the previous day.

An analysis of the investment showed that Dangote Sugar and Abbey Building Society led gainers table with 10 per cent to close at N29.70 and N1.10 per share respectively. Chellaram followed with a gain of 9.87 per cent to close at N2.56 per unit, Tantalizer gained 9.68 per cent to close at N0.34 per share while SUNU Assurance added 9.09 per cent to close at N0.72 per share.

On the contrary, JohnHolt topped losers chart in percentage terms, dropping by 10 per cent to close at N1.80 per share, Ellah Lake trailed with a loss of 9.92 per cent to close at N3.54 per unit Fidelity Bank fell by 9.88 per cent to close at N7.75 per share, Japaul Gold dipped by 9.71 per cent to N0.93 per share, Sovereign Trust Insurance fell by 9.52 per cent to close at N0.57 per share.

Volume of trades increased by 88.657 million, representing 13.16 per cent as iInvestors traded 762.097 million shares valued at N7.710 billion in 7935 deals against 673.42 million shares worth N6.47 billion in 9788 deals.

Transactions in the shares of AIICO Insurance led market activities during the day with 314.640 million shares valued at N220.211 million, United Bank for Africa followed with account of 54.493 million shares cost N742.992 million, Mansard insurance traded 48.838 million shares valued at N197.998 million, Ecobank Transnational Incorporate traded 41.872 million shares valued at N640.260 million while FCMB group traded 28.556 million shares cost N175.717 million.