Equity Dips N6bn Despite Appetite For Banking Stocks
The financial services dominated the activity chart on the floor of the Nigerian Stock Exchange (NSE) as First Bank Holdings and, Guaranty Trust Bank made the top five table on Wednesday.
Despite the lift however, the sector could not stop the All Share Index, (ASI) from dropping by 0.04 per cent.
The ASI closed at 35,021.26 basic point as against 35,033.74 basic point the market recorded on Tuesday.
The decline also impacted the market capitalisation closing at N18.304 trillion from N18.310 trillion it posted on Tuesday. This represent a drop of N6bn.
The depreciation of the market was highly influenced by decline in shares of Julius Berger Plc, Neimeth, Champions Breweries, Ardova Plc and Fidson.
Also, the market turnover decreased, as investors traded in 283,090 million worth of shares at N3.420,166 billion in 3,855 deals, in contrast to
306.918 million shares worth N3.274 billion in 4,500 deals the previous day.
The market breadth was positive with 30 gainers compared to 21 losers, as against 23 gainers and to 18 losers on Wednesday.
The top 5 losers was led in percentage terms by Ardova which equity dipped by 8.65 per cent to close at N13.2 per share.
Champions Breweries closely followed shedding 8.16 per cent to close at 0. 98 Kobo per share, while Fidson Plc fell by 7 .79 per cent to close at N4. 5 per share.
Also, Neimeth Pharmaceutical dipped by 5.18 per cent to close at N2. 4 per share, while the value of Julius Berger dropped marginally by 0.54 per cent to close at N18. 4 per share.
On the flip side, Unity Bank led the biggest gainers in percentage barometers surging by 4.69 per cent to close 0.67 Kobo per share.
In the same trajectory, Livestocks Feeds appreciated by 2.94 per cent to close at N1. 4 per share, while FCMB rose by 2.16 per cent to close at N3. 08 per share.
Also, Zenith Bank and Stanbic IBTC gained 0.21 and 0.11 per cent to close at N23.45 and N44. 5 per share respectively.
FBN Holdings led the activity chart in percentage terms when it sold 40.781 million shares worth N285.723 million. Guaranty Trust Bank followed trading 32.658 million sharesN1.082 billion.
AIICO Insurance came next when it sold 30.096 million worth of shares at N33.133 million, while Zenith Bank sold 29. 719 million shares worth N698. 088 million. Also, Mutual Benefit Assurance completed the top five table trading in 23.091 million shares worthN5.080 million.
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