Equity market closes lower, sheds N2bn

Transactions on the floor of Nigerian Exchange (NGX) yesterday sustained bearish trend, declining marginally by N2 billion. Specifically,  Market Capitalisation of listed equities declined by 0.01 per cent to N20.424 trillion from N20.426 trillion reported on Wednesday.
The NGX All Share Index also went down by 3.19 basis points to 39201.33 points from 39204.52 points traded the previous day.


Investors traded 350.528 million shares valued at N3.347 billion in 3523 deals against 354.061 million shares worth N3.202 billion exchanged hands in 4095 deals.


A review of investment during the day, showed that Chams Plc led gainers table during the day, gaining 4.76 per cent to N0.22 kobo, United Bank for Africa followed with a gain of 4.67 per cent to N7.85 , Cutix Plc added 4.60 per cent to N5.00, Oando Plc added 3.08 million shares valued at N4.68 , Nigerian Breweries gained 1.25 per cent to N48.65.


On the contrary, Cornerstone Insurance topped losers chart during the day, shedding 7.69 per cent to N0.48, AIICO Insurance trailed with a loss of 6.86 per cent to close at N0.95, Learn Africa dipped by 5.56 per cent to N1.36, Livestock Feeds fell by 5.45 per cent to N2.08, Honey Well Flour dipped by 5.13 per cent to N3.88.