Equities Market Drops N25.40bn
The sentiment of investors on the floor of the Nigerian Stock Exchange (NSE) was negative as the All Share Index (ASI) dipped 0.12 per cent on Thursday.
The ASI which opened at 41,147.72 basic point, dropped 48.57 index point to close at 41,099.15 basic point on Thursday.
Also, the market capitalisation dropped by 0.12 per cent to close at N21.499 trillion, as against the N21.524 trillion posted the previous day. Which means the market depreciated by N25.40bn.
The decline of equities was majorly impacted by loss in the stocks of hugely capitalized brands. Amongst which are; Cadbury Nigeria Plc, Dangote Cement, Flour Mills and Guinness Nigeria.
The market turnover returned positive, rising by 72.6 per cent, as investors traded in 1.121 billion shares worth N6.397 billion in 7,404 deals, compared to 649.649 million worth of shares at N4.611 billion in 6,296 deals traded on Wednesday.
The market breadth was negative, with 50 losers compared to 14 gainers.
The losers’ chart was led in percentage parameters by MRS Oil Nigeria Plc, falling by 9.82 per cent to close at N12.4 per share.
Cadbury Nigeria closely followed, when it shed 9.72 per cent to close at N9.75 per share, while shares of Flour Mills depreciated by 2.77 per cent to close at N31. 6 per share.
Likewise, Guinness Nigeria and Dangote Cement completed the top five losing chart, dropping 2.37 and 0.21 per cent to close at N18.5 and N234 per share respectively.
Conversely, Nigeria Flour Mills led the gainers’ chart in percentage terms. gaining 10 per cent to close at N9.68 per share.
Also, Champions Breweries and NCR Nigeria Plc surged 9.88 and 9.65 per cent to close at N1.78 and N2.84 per share respectively.
Lafarge Africa climbed by 5.47 per cent to close at N27.95 per share, while Ardova Plc rose by 3.54 per cent to close at N20.45 per share.
The market activity chart dominated in volume terms by Transnational Corporation, trading 428.291 million worth of shares at N559.209 million, while Guaranty Trust Bank, Sovereign Trust Insurance, Mutual Benefit Assurance and Universal Insurance rounded off the top five activity chart of the NSE.
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