Equity market dips further by N7bn

Trading activities on the floor of Nigerian Exchange (NGX) Thursday sustained declining position as valued of equities close southwards, shedding N71 billion.

Specifically, market capitalisation of listed equities declined further by N7 billion or 0.03 per cent to N22.043 trillion from N22.050 trillion reported the previous day.

The NGX All Share Index also depreciated by 13.74 basis points to 42230.48 points from 42244.22 points traded on Wednesday.

Investors traded 211.089 million shares valued at N2.464 billion in 2815 deals against 224.026 million shares worth N2.657 billion in 2677 deals.

An analysis of the investment showed that Union Bank of Nigeria Plc led gainers table during the day, appreciating by 9.78 per cent to N5.05, Royal Exchange followed with a gain 7.14 per cent to N0.75, Mutual Benefits gained 6.67 per cent to N0.32, Eterna Plc increased by 6.00 per cent to N5.30, Oando Plc added 5.26 per cent to N4.60.

On the contrary, Julius Berger topped losers chart, shedding 9.88 per cent to N22.35, UPDC trailed with a loss of 5.60 per cent to N1.18, Sovereign Trust Insurance dipped by 4.00 per cent to N0.24, FBNHoldings sheds 2.50 per cent to N11.70, Honey Well Flour Mills Nigeria Plc dipped by 1.43 per cent to N3.45.

The result further showed that UACN was the toast of investors during the day exchanging 64.515 million shares valued at N617.023 million, Sovereign Trust Insurance followed with account of 23.311 million shares valued N5.478 million, GTCO traded 211.406 million shares cost 54.956 million, Jaiz Bank traded 14.949 million shares cost N95.717 and Unity Bank exchanging 7.971 million shares valued at N3.774 million.