Equity market sheds N19bn

The domestic equity market index fell by 35.25 basis points to conclude the day at 49540.48 points from from 49575.73 points traded the previous day as the market recorded 17 losers against eight gainers at the close of trading session on Thursday.

Market capitalisation of listed equities also declined by N19 billion or 0.07 per cent to N26.721 trillion from N26.740 trillion reported the previous day.

Investors traded 167.607 million shares valued at N1.264 billion in 3458 deals against 197.457 million shares valued at N2.942 billion in 3462 deals. An analysis of the investment showed that Sovereign Trust Insurance led gainers table during the day, gaining 3.85 per cent to N0.27, Cadbury Nigeria Plc followed with a gain of 2.69 per cent to N13.35, Courtvellle Business Solutions added 2.08 per cent to N0.49, Zenith Bank gained 0.77 per cent to N19.65, United Bank for Africa grew by 0.68 per cent to N7.45.

On the contrary, UACN topped losers chart during the day, declining by 6.82 per cent to N10.25, UDPC REITs trailed with a drop of 5.88 per cent to N3.20, Vitafoam Nigeria Plc fell by 5.88 per cent to N20.00, UPDC dipped by 5.0 per cent to N0.59.

The result further showed that Courtvellle Business Solutions was the most active stock during the day exchanging 38.811 million shares valued at N18.249 million in 11 deals, Access Corps followed with account of 28.471 million shares worth N249.362 million in 234 deals, Fidelity Bank traded 10.819 million shares cost N36.906 million 131 deals, Transnational Corporation of Nigeria traded 10.684 million shares valued at N11.265 million in 81 deals, while Chi Plc exchanged 9.221 million shares worth N5.296 million in 26 deals.