Local equity sustains bearish run, sheds N31bn

The domestic equity market on Thursday closed Southward, declining by N31 billion.

Market capitalisation of listed equities decreased by 0.05 per cent to N66.109 trillion from N66.140 trillion reported the previous day.

The NGX All Share Index also depreciated by 49.26 basis points to 105426.12 points from 105475.38 points recorded on Wednesday.

A review of the investment during the day showed that TIP Plc led gainers table with 9.85 per cent to close at N4.46 per share, Mutual Benefits and Universal insurance followed with a gain of 9.09 per cent each to close at N0.96 and N0.60 per share respectively. Royal Express gained 8.99 per cent to close at N0.97 per unit,  Learn Africa added 8.14 per cent to close at N3.32 per share.

On the contrary, JohnHolt topped losers chart, dropping by 10 per cent to close at N7.74 per unit, Chams Plc trailed with a loss of 8.52 per cent to close at N2.04 per share, NSLTECH down by 8.47 per cent to close at N0.54 per share, May &Baker down by 7.95 per cent to close at N8.10 per unit. UPDC fell by 6.90 per cent to close at N2.70 per unit.

Volume of transactions declined by 5.336 billion, representing 1259 per cent as investors traded 423.617 million shares valued at N9.181 billion in 11393 deals against 5.760 billion share worth N342.605 billion exchanged hands the previous day in 10908 deals.

Trading  during the day showed that Access Holdings company led market activities with 64.962 million shares valued at N1.430 billion, Zenith Bank followed with account of 41.504 million shares cost N1.972 billion, Fidelity Bank traded 40.703 million shares cost N773.215 million, NSLTECH exchanged 38.419 million shares cost N20.832 million , Tantalizer traded 31.503 million shares valued at N89.914 million.

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