Equity market sustains bearish run, sheds N127bn

The local equity on Wednesday experienced further decline as the market closed negative, shedding N127 billion.

Market capitalisation of listed equities declined by 0.42 per cent to N30.228 trillion from N30.355 trillion traded on Tuesday.

The NGX All Share Index also depreciated by 232.70 basis points to 55490.20 points from 55722.90 points reported the previous day.

A review of the investment showed that Prestige Insurance led gainers table during the day in percentage terms, gaining 7.89 per cent to close at. 0.41, Veritas Kapital followed with a gain of 5.00 per cent to close at N0.21 per unit, NGX group gained 4.87 per cent to close at N28.00 per share, Unilever Nigeria Plc gained 3.70 per cent to close at N14.00, Japaul Gold gained 3.57 per cent to close at N0.29 per shares.

On the contrary,

United Capital topped losers chart on percentage terms, declining by 9.30 per cent to close at N11.70 per unit, UPL trailed with a loss of 7.50 per cent to close at N1.85 per share, Glaxosmith fell by 7.46 per cent to close at N6.20 per share, Neimeth international Pharmaceutical fell by 7.01 per cent to close at N1.46 per share, Oando Plc down by 6.74 per cent to close at N4.01 per share.