Bears return as equity market sheds N109bn

Transactions on the floor of Nigerian Exchange (NGX) Thursday closed in bearish trend, shedding N109 billion.

The market capitalisation of listed equities fell by 0.43 per cent to N25.309 trillion from N25.418 trillion reported the previous day.

The NGX All Share Index also depreciated by 203.65 basis points to 46960.29 points from 47163.94 points reported on Wednesday.

Investors traded 214.699 million shares valued at N2.625 billion in 4003 deals.

An analysis of the trading activities showed that Veritas Kapital led gainers table during the day, increasing by 9.52 per cent to N0.23, FCMB group followed with a gain of 7.46 per cent to N3.60, Custodian Investment Plc added 7.14 per cent to N7.50, Oando Plc gained 6.38 per cent to N5.00, AIICO Insurance rose by 6.06 per cent to N0.70.

On the contrary, RTBriscoe topped losers chart, declining by 9.72 per cent to N0.65, Chi Plc trailed with a drop of 9.09 per cent to N0.60, Sterling Bank dipped by 3.80 per cent to N1.52, Flour Mills Nigeria Plc down by 3.13 per cent to N31.00, Jaiz Bank fell by 2.94 per cent to N0.66.

The result further showed that Fidelity Bank was the toast of investors, exchanging 48.260 million shares valued at N157.255 million, GTCO Plc followed with account of 26.093 million shares cost N606.918 million, Zenith Bank traded 20.175 million shares cost N540.428 million, United Bank for Africa sold a total of 18.334 million shares worth N139.653 million while Custodian Investment Plc exchanged 17.530 million shares cost N125.227 million.

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