Investors on the Nigerian equities market yesterday lost N118 billion as the market reversed its previous session gains on renewed profit-taking.
In summary, the All-Share Index (ASI) dipped by 226.26 absolute points, representing a decrease of 0.57 per cent to close at 39,267.11 points, while the overall market capitalisation value lost N118 billion to close at N20.545 trillion.
The market loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Dangote Cement, Julius Berger Nigeria, Ecobank Transnational Incorporated (ETI), Fidelity Bank and International Breweries.
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As measured by market breadth, market sentiment was positive, as 22 stocks gained, relative to 15 losers. Livestock Feeds recorded the highest price gain of 9.66 per cent to close at N41.93, while Cornerstone Insurance and Courteville Business Solutions followed with a gain 9.09 per cent each, to close at 60 kobo and 24 kobo, respectively, per share.
NPF Microfinance Bank up by 8.33 per cent to close at N1.95, while Royal Exchange appreciated by 7.69 per cent to close at 28 kobo, per share. On the other hand, Regency Alliance Insurance led the losers’ chart by 9.09 per cent to close at 30 kobo, per share. Prestige Assurance followed with a decline of 8.89 per cent to close at 41 kobo, while Daar Communications shed eight per cent to close at 23 kobo, per share.
ETI lost 4.72 per cent to close at N5.05, while Sovereign Trust Insurance shed 4.17 per cent to close at 23 kobo, per share.
The total volume of trades decreased by 35.6 per cent to 336.126 million units, valued at NGN3.269 billion, and exchanged in 4,394 deals. Transactions in the shares of Union Bank of Nigeria (UBN) topped the activity chart with 78.889 million shares valued at N418.14 million. Courteville Business Solutions followed with 43.908 million shares worth N10.533 million, while Guaranty Trust Bank traded 28.971 million shares valued at N955.089 million.
Zenith Bank traded 24.908 million shares valued at N560.466 million, while Transnational Corporation of Nigeria (Transcorp) transacted 22.621 million shares worth N17.961 million.
