Equity market remains volatile, sheds N265bn

The expectations that listing of Airtel Africa Plc will boost activities in the market as transactions on the floor of Nigerian Stock Exchange on Thursday remained volatile, shedding  N265 billion.

Specifically, Market Capitalisation of listed equities declined by 1.86 per cent  to N13.993 trillion from N14.258 trillion reported the previous day. 

The NSE All Share Index also depreciated by 543.70 basis points to 28712.90 points from 29256.60 points reported  on Wednesday.

Investors traded 188.432 million shares valued at N3.174 billion in 3105 deals against 188.772 million shares worth N3.717 billion exchanged hands the previous day in 3363 deals.

A review of transactions during the day showed that Guaranty Trust Bank Plc recorded the highest gain, increasing by N0.95 kobo to close at N30.00, Nigerian Breweries followed with a gain of N0.50 kobo to close at N61.00, Wapco Insurance appreciated by N0.15 kobo to close N13.70 kobo, Custodian and Investment Plc added N0.05 kobo to close at N6.20 kobo while Ecobank Transnational Incorporated grew by N0.05 kobo to close at N9.95 kobo.

On the contrary, Nestlé Nigeria Plc  recorded the highest loss during the day shedding N65.00 to close at N1280.00, Airtel Africa Plc trailed with a loss of N35.90 kobo to close at N323.50 kobo, MTN Nigeria Communications Plc fell by N3.00 to close at N130.00, Cement company of Northern Nigeria down by N1.50 kobo to close at N13.85 kobo while Dangote Cement Industry dipped by N0.50 kobo to close at N173.00.

The result further showed that FBNHoldings Plc recorded the highest volume of activities during the day, trading 50.122 million shares valued at N302.314 million, Zenith Bank Plc followed with account of 21.129 million shares worth N404.322 million, Access Bank Plc traded 18.891 million shares cost N125.519 million, United Bank for Africa sold a total of 13.102 million shares cost N77.471 million while Guaranty Trust Bank exchanged 12.995 million shares worth N380.713 million.

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