Equities market depreciates by N127bn, marking fourth successive decline session

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Investors’ negative sentiments drove the equities market on Wednesday downward as market capitalisation dropped by N127billion, marking its fourth successive decline session.

The Nigerian Exchange Limited’s All-Share Index (NGX ASI) fell by 232.70 basis points or 0.42 per cent to 55,490.20 basis points.

Consequently, investors lost N127 billion in value as market capitalisation declined to N30.229 trillion.

Sectoral performance was on the downside as the Banking (-1.95 per cent), Consumer Goods (-0.29 per cent) and Industrial (-0.01per cent) sectors closed negative while the Oil and Gas sector closed flat.

Market breadth was negative, with 11 gainers versus 19 losers.

Prestige Assurance recorded the highest price gain of 7.89 per cent, to close at 41 kobo per share.

Veritas Kapital Assurance followed with a gain of 5.00 per cent to close at 21 kobo, while Nigerian Exchange Group appreciated by 4.87 per cent to close at N28.00 per share.

Unilever Nigeria went up by 3.70 per cent to close at N14.00, while Japaul Gold and Ventures appreciated by 3.57 per cent to close at 29 kobo per share.

On the other hand, United Capital led the losers’ chart by 9.30 per cent, to close at N11.70 per share.

University Press followed with a decline of 7.50 per cent to close at N1.85, while GlaxoSmithKline Consumer Nigeria declined by 7.46 per cent to close at N6.20 per share.

Neimeth Pharmaceutical depreciated by 7.01 per cent to close at N1.46 and Oando declined by 6.74 per cent to close at N4.01 per share.

The total volume traded declined by 9.1 per cent to 181.187 million units, valued at N3.405 billion, and exchanged in 3,908 deals.

Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 33.851 million shares valued at N841.945 million.

Transnational Corporation (Transcorp) followed with 20.127 million shares worth N26.619 million, while Zenith Bank traded 18.560 million shares valued at N454.671 million.

Flour Mills of Nigeria traded 18.494 million shares valued at N573.142 million, while United Bank for Africa (UBA) sold 15.149 million shares worth N121.591 million.

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