International Breweries, Caverton, Others Drag Equities Market To N34.8bn Loss
Key market indices were all in the red when the Nigerian Exchange Limited (NGX) closed bearish Thursday, losing N34.8 billion.
The dip of the domestic bourse was buoyed by a decline in the stocks of large and medium-scale companies like International Breweries Plc, Caverton Plc, RTBriscoe Plc, Chams Plc and Lasaco Assurance Plc.
The All-Share Index (ASI) dipped by 64.52 index points or 0.12 per cent to close at 52,122 basis points, as against 52,186.52 basis points on Wednesday.
The market capitalization which is the total value of all listed equities on the NGX depreciated by N34.8 billion, representing a 0.12 per cent to settle at N28.11 trillion compared to N28.14 trillion recorded on Wednesday.
During Thursday’s trading session, the market turnover decreased by 36.2 per cent when investors bought and sold 151.94 million units of shares valued at N2.16 billion in 3,447 deals compared to 238.27 million shares worth N3.336 billion in 3,814 deals that exchanged hands the previous trading session.
The market breadth was negative with 22 losing stocks and 13 gainers against 22 laggards compared to 13 gainers on Wednesday.
The losers’ table was dominated in percentage parameters by InternationalBreweriess Plc, as the brewing firm lost 9.17 per cent to close at N4. 95 kobo per share.
Caverton Plc and RTBriscoe Plc fell by 8.80 per cent and 8.33 per cent to settle at N1.14 kobo and N0.44 kobo per share respectively.
Also, Chams Plc declined by 7.41 per cent to close at N0. 25 kobos per share, while Lasaco Assurance Plc shed 7. 3r cents to close at N1. 01 kobo per share.
Conversely, the gainers’ chart was led in percentage terms by Multiverse Plc, as the company rose by 9.55 per cent to close at N1. 95 kobo per share.
Cornerstone Insurance Plc jumped by 9.09 per cent to settle at N0.72 kobo per share, while Regency Assurance Plc appreciated by 8 per cent to close at N0. 27 kobos per share.
AIICO Insurance Plc and Learn Africa Plc soared by 4.92 per cent and 4 per cent to close at N0.64 kobo and N2.60 kobo per share respectively.
Analysis of the NGX market activity chart shows that Tier – 1 financial institution, Guaranty Trust Holding Company (GTCO) Plc closed trading as the most valuable and active stock on the local bourse, as the lender transacted a total of 33.84 million units of shares valued at N707.7 million.
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