Domestic equity dips by N62bn

Nigeria’s equity market on Tuesday sustained declining profile, shedding N62 billion fololowing share depreciation recorded by Nigerian Breweries and Ecobank Transnational Incorporated.

Market capitalisation of listed equities dropped to N25.775 trillion from N25.837 trillion reported the previous day.

The NGX All Share Index also depreciated by 113.58 basis points to 47322.87 points from 47436.45 traded on Monday.

Investors traded 120.946 million shares valued at N1.647 billion in 3022 deals against 279.282 million shares worth N1.562 billion in 3781 deals.

An analysis of the investment showed that Chams Plc led gainers table during the day, increasing 9.09 per cent to N0.24, Wapic Insurance followed with a gain of 6.06 per cent to N0.35, NPF Micro Finance Bank added 5.33 per cent to N1.58. Jaiz Bank gained 3.66 per cent to N0.85, FCMB group up by 3.08 per cent to N3.35.

Neimeth international Pharmaceutical on the other hand topped losers chart, dropping by 7.97 per cent to N1.27, Nigerian Breweries trailed with a loss of 7.66 per cent to N45.20, Caverton fell by 5.68 per cent to N0.83, Ecobank Transnational Incorporated dipped by 5.16 per cent to N10.10, Union Bank of Nigeria dropped by 4.58 per cent to N6.25.

The result further showed that Transnational Corporation of Nigeria was the most active stock during the day, exchanging 34.589 million shares valued at N40.478 million, AccessCorp followed with account of 11.170 million shares worth N94.915 million, Zenith Bank Plc exchanged 9.330 million shares cost N20.252 million, FBNHoldings traded 8.731 million shares worth N96.615 million while GTCO Plc sold a total of 8.491 million shares valued at N169.379 million.

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