Equity market loses N13bn

The nation’s equity market yesterday sustained bearish sentiments as market indicators declined by 0.4 per cent.

Market capitalisation of listed equities depreciated by N13 billion to N28.664 trillion from N28.677 trillion reported the previous day.

The NGX All Share Index also dropped by 23.25 basis points to 53170.73 points from 53193.98 points recorded on Wednesday.

Investors traded 318.417 million shares valued at N3.338 billion in 4345 deals against 248.958 million shares valued at N1.861 billion in 4265 deals.

The result showed that C & I Leasing recorded the highest loss during the day, shedding 8.57 per cent to N3.20, FTNCocoa trailed with a loss of 8.33 per cent to N0.33, Ikeja Hotel fell by 3.23 per cent to N1.20, Glaxosmith down by 2.74 per cent to N7.10, Zenith Bank sheds 2.35 per cent to N22.85.

On the contrary, UPL led gainers table during the day, appreciating by 9.43 per cent to N2.90, Cornerstone Insurance followed with a gain of 8.93 per cent to N0.61, Ellahlakes gained 7.89 per cent to N3.69, International Breweries added 4.23 per cent to N7.40 while Regal Insurance up by 3.70 per cent to N0.28.

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