Equity market closes negative sheds N72bn




The nation’s domestic equity market yesterday sustained negative trend gaining N72 billion as profit taking in the market persist.

Market capitalisation of listed equities declined by 0.25 per cent to N28.486 trillion from N28.558 trillion reported the previous day.

The NGX All Share Index also depreciated by 133.94 basis points to 52840.21 points from 52974.15 points reported on Wednesday.

Investors traded 274.428 million shares valued at N4.028 billion in 5011 deals against 295.353 million shares worth N3.590 billion in 4637 deals.

An analysis of the investment during the day showed that Ellah Lakes led gainers table during the day, gaining 9.62 per cent to N3.42, PZ Cusson followed with a gain of 9.57 per cent to N12.60, Sovereign Trust Insurance gained 8.33 per cent to N0.26, Nahco gained 8.31 per cent N7.82, Alex increased by 7.46 per cent to N7.20.

On the contrary, Royal Exchange topped losers chart during the day, shedding 10 per cent to N0.90, GSPEC Plc trailed with a loss of 9.75 per cent to N2.50, Champion Breweries fell by 8.63 per cent to N3.60, FCMB group down by 6.57 per cent to N3.27, International Breweries dipped by 5.66 per cent to N7.50.

The result further said that FBNHoldings was the toast of investors, trading 74.658 million shares valued at N836.141 million, Transnational Corporation of Nigeria followed with account of 31.368 million p4 valued at N40.165 million Zenith Bank Plc traded 26.916 million shares cost N621.529 million, GTCO Plc exchanged 17.801 million shares valued at N401.508 million, United Bank for Africa sold a total of 12.475 million shares cost N98.011 million.

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