Equity market loses N409bn on profit taking pressure

The local equities market All Share Index depreciated further by 784.89 basis points to close at 42463.16 points amid sustained profit taking activity.

Market capitalisation of listed equities also declined by N409 billion or 1.81 per cent to N22.157 trillion from N22.566 trillion traded on Tuesday.

The NGX All Share Index also depreciated by 1.81 per cent  to 42463.16 points from 43248.05 reported the previous day.

Investors traded 335.480 million shares valued at N3.552 billion in 3891 deals against 224.910 million shares cost N3.708 billion exchanged hands the previous day in 4331 deals.

A review of the investment showed that Cornerstone Insurance led gainers table during the day, appreciating by 7.69 per cent to N0.56, Mansard Insurance followed with a gain of 7.55 per cent to N2.28, Chams Plc gained 5.00 per cent to N0.21, NGX group added 3.66 per cent to N17.00 while FTNCocoa added 2.56 per cent to N0.40.

On the contrary, MTN Nigeria recorded the highest loss during the day, shedding 10.00 per cent to N171.00, Africa Prudential trailed  with 7.69 per cent to N6.00, UPDC added 7.48 per cent to N0.99, Rayal Exchange fell by 5.56 per cent to N0.51, Honey Well Flour Mills dipped by 5.32 per cent to N3.74.