Equity market continues losing streak, sheds N112bn

The bears continued to dominate the domestic equity market as investors weather depleted by N112 billion as sell off in the shares of companies in financial services sector impacted on the market.

Market capitalisation of listed equities declined by  0.31 per cent to N36.367 trillion from N36.479 trillion reported the previous day.

The NGX  benchmark index declined by 203.54 basis points to  66448.63 points  from 66,652.17 points traded the previous day.

The trading result showed that RTBriscoe led gainers table with 9.76 per cent to N0.45 per unit, CWG followed with a gain of 9.72 per cent to close at N7.90 per share, Betaglass gained 9.55 per cent to close at N56.20 per unit, Veritas Kapital gained 8.33 per cent to close at N0.26 per unit, Cornerstone Insurance added 7.88 per cent to close at N1.76 per share.

On the contrary, Vitafoam Nigeria Plc topped losers chart in percentage terms, shedding 9.92 per cent to close at N22.25 per unit

FTNCocoa trailed with a loss of 9.88 per cent to close at N1.55 per share, Oando Plc down by 9.84 per cent to close at N8.70 per unit, JohnHolt dipped by 9.39 per cent to N1.64 per share,United Capital declined by 7.20 per cent to close at N16.10 er unit.

Volume of trades for the day declined also by 90.191 million, representing 24.78 per cent as Investors traded 273.798 million shares valued at N3.412 billion in 6826 deals against 363.989 million shares worth N4.529 billion in 7018 deals.