Equity market sheds N52bn

Transaction on the floor of Nigerian Exchange (NGX) Tuesday continued on negative trend, shedding N52 billion as investors traded with caution to avert any losses.

Market capitalisation of listed equities declined by 0.20 per cent to N25.414 trillion from N25.466 trillion reported on Monday.

The NGX All Share Index also depreciated by 95.37 basis points to 47156.56 points from 47251.93 recorded the previous day.

Investors’ traded 303.480 million shares valued at N3.902 billion in 4616 deals against 213.569 million shares cost N2.675 billion in 4485 deals. An analysis of the investment showed that NPF Micro Finance Bank led gainers table during the day, appreciating by 9.52 per cent to N2.53, FCMB group followed with a gain of 7.94 per cent to N3.67, Prestige Insurance gained 6.52 per cent to N0.47, Chams Plc added 4.76 per cent to N0.22 and UACN gained 4.74 to N12.15.

On the contrary, Japaul Gold recorded the highest loss for the day, depreciating 8.82 per cent to N0.31, Champion Breweries followed with a drop of 8.78 per cent to N1.87, Oando Plc dipped by 6.75 per cent to N4.70, Mansard dipped by 6.52 percent to N2.15 Regal Insurance declined by 5.26 per cent to N0.36. The report further showed that Access Bank Plc was the toast of investors during the day as it exchanged 44.151 million shares valued at N433.299 million, United Bank for Africa followed with account of 39.543 million shares cost N304.855 million, Fidelity Bank traded 33.352 million shares cost N10.387 million, GTCO Plc exchanged 28.335 million shares cost N737.469 million while Zenith Bank Plc sold a total of 28.215 million shares cost N758.009