Equity market declines by N36bn

Trading activities on the floor of Nigerian Exchange (NGX) on Thursday closed in negative trend, shedding N36 billion as investors engage in profit taking ahead of companies release of 2022 financial scorecards.

Market capitalisation of listed equities declined by 0.12 per cent to N29.608 trillion from N29.644 trillion reported on Wednesday. The NGX All Share Index also depreciated by 67.15 basis points to 54359.90 point from 54427.05 points traded the previous day

The NGX trading result showed that

Redstarex led gainers table in percentage terms, gaining 9.49 per cent to N2.77, Trans Express followed with a gain of 9.46 per cent to N0.81, SUNU Assurance added 9.38 per cent to N0.35, Tripple G increased by 8.70 per cent to N1.25, Chams Plc gained 8.33 per cent to N0.26.

On the contrary,

Glaxosmith topped losers chart, with a drop of 7.91 per cent to N6.40,Veritas Kapital trailed with loss of 4.76 per cent to N0.20, Wapic Insurance down by 4.44 per cent to N0.43, Royal Exchange dipped by 4.00 per cent to N0.72, Fidelity Bank sheds 3.39 per cent to N5.70.

However, volume of transactions increased by 46.84 per cent as investors traded 222.644 million shares valued at N3.036 billion in 3287 deals against 151.583 million shares cost N1.810 billion exchanged hands in 2974 deals.