Domestic equity gains N130bn as selloff in GTCO, Zenith lift market activities

Selloff in the shares of Zenith Bank, GTCO Plc, lifted activities in the equity market as volume of transactions increased by 54.09 per cent.

The volume of activities increased by 55.972 million as investors traded 159.437 million shares valued at N2.861 billion in 3039 deals against 103.465 million shares worth N1.186 billion exchanged hands the previous day in 3045 deals.

The NGX two market indicators also close in on a positive note, increasing by 0.54 per cent.

Specifically, market capitalisation of listed equities increased by N130 billion to N23.991 trillion from N23.861 trillion reported the previous day.

The NGX All Share Index also depreciated by 238.68 basis points to 44046.94 points from 43898.25 points reported on Tuesday.

An analysis of investment for the day showed that Cornerstone Insurance led gainers table during the day, improving by 10 per cent to N0.44, MRS followed with a gain of 9.73 per cent to N14.10, Zenith Bank gained 8.46 per cent to N21.86, GTCO Plc gained 6.63 per cent to N19.30, Wapco Plc added 5.97 per cent to N21.30.

On the contrary, Eterna Plc recorded the highest loss during the day shedding 10 per cent to N5.67 per cent, Guinness Nigeria Plc trailed with a loss of 9.98 per cent to N67.20, SCOA Plc down by 9.49 per cent to N1.43, SUNUAssurance dipped by 9.38 percent to N0.29, Courteville Business Solutions down by 8.00 per cent to N0.46 kobo.