Bears return as equities market sheds N308bn
Transactions on the floor of Nigerian Exchange NGX on Thursday returned to negative performance, declining by N308 billion as bears dominate market activities during the day.
Market Capitalization of listed equities declined by 0.40 per cent to N76.453 trillion from N76.761 trillion reported the previous day.
The NGX also depreciated by 485.01 basis points to 120772.68 points from 121257.69 points recorded on Wednesday.
Trading during the day showed that the market breath was negative with 37 losers against 33 advancers.
The negative performance witnessed in the market was as a result of losses recorded in the shares of Oando Plc, Cadbury Nigeria Plc, Buafood , Nahco and other 33 firms.
As a result, year to date return dropped to 17.35 per cent as 33 companies advanced in price against 37 decliners
An analysis of the investment showed that Unilever Nigeria Plc, SFSREIT led gainers table with 10 per cent each, to close at N51.70 and N249.25 respectively.Neimeth Pharmaceutical followed with a gain of 9.98 per cent to close at N5.40 per unit, UACN added 9.97 per cent to close at N38.05 per share , Cap Plc gained 9.92 per cent to close at N47.10 per unit.
On the contrary, Thomas Way topped losers’ chart during the day, shedding 10 per cent to close at N2.07 per unit, Nacho trailed with a loss of 9.99 per cent to close at N91.00, Oando Plc dipped by 9.96 per cent to close at N61.90 per share, ABC Transport dropped by 8.92 per cent to close at N2.45 per unit, Champion Breweries fell by 8.34 per cent to close at N47.10 per unit.
Volume of trades increased by 24.291 million, representing 2.82 per cent as investors traded 892.970 million shares valued at N18.225 billion in 25375 deals against 861.670 million shares worth N23.708 billion exchanged hands the previous day in 22896 deals.
Transactions in the shares of EllahLakes led market activities with 113.498 million shares valued at N851.089 million, Access Holdings company followed with account of 76.192 million shares worth N1.737 billion, Caverton Business Solutions traded 64.861 million shares cost N334.833 million, JapaulGold exchanged 61.564 million shares valued at N126.663 million while Zenith Bank traded 60.300 million shares worth N3.471 billion.
