Equity market as volume of activities decline by 38.47%

Trading activities on the floor of Nigerian Exchange (NGX) yesterday witnessed low activities as volume of transactions declined by 38.47 per cent.

Volume of transactions during the day went down by 42.125 million as Investors traded 67.369 million shares valued at N1.480 billion in 3386 deals against 107.494 million shares worth N1.150 billion exchanged hands the previous day in 3303 deals.

Also, both NGX market indicators depreciated by 0.07 per cent respectively.

Specifically, market capitalisation of listed equities declined by N19 billion or 0.071 per cent to N26.667 trillion from N26.686 trillion it closed on Friday.

The NGX All Share Index also depreciated by 35.21 basis points to 49440.21 points from 49475.42 points reported the previously.

A review of the investment for the day showed that E-tranzact Plc led gainers table during the day, gaining 9.97 per cent to N3.20, Academy Press followed with a gain of 9.52 per cent to N1.85, Vitafoam Nigeria Plc gained 5.00 per cent to N21.00, Honey Well Flour increased by 3.36 per cent to N2.46, Cornerstone Insurance added 3.33 per cent to N0.62.

On the contrary, ABC Transport topped losers chart during the day, declining by 10 per cent to N0.27, UPL followed with a drop of 9.44 per cent to N1.63, Mutual Benefits Assurance fell by 6.90 per cent to N0.27, RTBriscoe fell by 6.25 per cent to N0.30, Courtvellle Business Solutions down by 6.12 per cent to N0.46.

The report further showed that  FBNHoldings was the most active stock during the day, exchanging 9.672 million shares valued at N96.556 million in 185 deals, Zenith Bank followed with account of 9.252 million shares cost N182.384 million in 374 deals, GTCO Plc traded 6.112 million shares valued at N120.396 million in 321 deals, Mutual Benefits sold a total of 4.487 million shares cost N1.246 million in 20 deals  while Sovereign Trust Insurance traded 2.954 million shares cost N797, 719 in four deals.