Stock market remains low, sheds N19bn

Trading activities on the floor Nigerian Exchange (NGX) closed negative trend, shedding N19 billion .

The NGX trading result showed that market capitalisation of listed equities declined further by 0.07 per cent to N28.422 trillion from N28.441 trillion reported on Tuesday.

The NGX All Share Index also depreciated by 35.28 basis points to 52721.34 points from 52756.62 points reported the previous day.

Investors traded 611.973 million shares valued at N7.426 billion in 5948 deals against 1.323 billion shares worth N7.724 billion exchanged hands the previous day in 6449 deals.

An analysis of the investment showed that Mcnichols led gainers table during the day, gaining 9.94 per cent to N1.77, Transcop Hotel followed with a gain of 9.84 per cent to N5.36, Champion Breweries added 7.03 per cent to N3.96, Chi Plc gained 6.56 per cent to N0.65, Multiverse grew by 4.76 per cent to N0.22.

On the contrary, Academy Press topped losers chart during the day, dropping by 9.93 per cent to N1.36, Berger Paint trailed with a loss of 8.86 per cent to N7.20, Neimeth international Pharmaceutical fell by 8.57 per cent to N1.60, May and Baker Nigeria Plc down by 8.51 per cent to N1.60, Wema Bank Plc dipped by 7.61 per cent to N3.28.