Equities Market Slumps N133bn

The bearish trend continued on the Nigerian Bourse Thursday as the All Share Index declined by 0.63 per cent.

The ASI dropped 253.13 index point to close at 40,212.19 basis point from the 40,465.32 basis point it opened during Thursday’s trading session.

Significantly, the equities capitalization closed at N21. 036 trillion compared to N21. 169 trillion it posted the previous trading session. In effect, the market slumped by N133bn, representing a 0.63 per cent fall.

The decline of the market was majorly influenced by depreciation in the stocks of University Press Plc, Charms Plc, UPDC Real Estate, Japaul Gold and Multiverse Mining and Exploration.

However, the market turnover increased by 74.5 per cent, as investors traded 426.269 million shares worth N4.750 billion in 4,972 deals, as against 244. 202 million shares worth N2. 653 billion in 4,083 deals the previous day.

The market breadth was negative with 30 losers and 10 gainers, compared to 21 losers and 17 gainers on Wednesday.

The losers’ chart was led in percentage parameters by University Press Plc, losing 9.09 per cent to close at N1.2 per share.

Chams Plc shed 8.33 per cent to close at 22 lono per share, while
UPDC Real Estate Plc declined by 7.76 per cent to close at N5. 35 per share.

In the same vein, Multiverse Mining and Exploration Plc lost 7.69 per cent to close at 24 kobo, while Japaul Gold fell by 5.56 per cent to close at 68 kobo per share.

Conversely, RT Briscoe led the gainers’ table, gaining 10 per cent to close at 22 kobo per share.

Cornerstone Insurance surged by 8.47 per cent to close at 64 kobo per share, while Royal Exchange Plc climbed 8 per cent to close at 27 kobo per share.

Nigeria Aviation Handling Company and Niger Insurance appreciated by 6.51 and 4.55 per cent to close at N2.29 and 23 kobo per share respectively.

FBN Holdings was the most active stock trading at 129.802 million shares worth N949. 312 million, while for the second consecutive trading session, Guaranty Trust Bank was the most valuable equity at N1,078,974,708.55.