Equity market loses N7bn

Trading activities on the floor of the Nigerian Stock Exchange  ( NSE) yesterday close southward, shedding N7 billion

Specifically, market capitalisation of listed equities declined by 0.05 per cent to N14.512 trillion from N14.519 reported the previous day.

The NSE All Share Index also depreciated by 13.59 basis points to 27864.84 points from 27878.43 points reported on Wednesday.

Investors traded 150.725 million shares valued at N2.781 billion in 3198 deals against 81.903 million shares worth N1.068 billion exchanged in 2414 deals.

The NSE daily trading result showed that Guaranty Trust Bank recorded the highest gain during the day, increasing by N1.85 kobo to close at N30.85 kobo, Flour Mills Nigeria Plc followed with a gain of N0.50 kobo to close at N25.00, BUA Cement Plc added N0.50 kobo to N35.80 kobo, United Capital increased by  N0.26 kobo to close at N2.86 kobo, Learn Africa Plc gained N0.11 kobo to close at N1.24 kobo.

On the contrary, MTN Nigeria Communications toped losers chart, dropping by N4.00 to close at N116.00, NEM Insurance Plc trailed with a loss of N0.16 kobo to close at N2.04 kobo, UAC of Nigeria down by N0.15 kobo to close at N9.35 kobo, Law Union and Rock Insurance fell by N0.12 kobo to close at N1.1 kobo, Zenitg Bank sheds N0.05 kobo to close at N19.90 kobo.

The result further showed that Zenith Bank was the toast of investors during the day, trading 25.409 million shares worth N502.432 million, Flour Mills Nigeria Plc followed with account of 25.058 million shared cost N574.519 million, United Capital sold 21.779 million shares valued at N59.040 million, United Bank for Africa exchanged 10.907 million shares worth N84.532 million while MTN Nigeria traded a total of 8.854 million share cost N792.584 million.

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