The equities market on Tuesday reversed previous gains as the overall capitalization lost N200 billion on losses in Nestle Nigeria Plc and 24 others.
The All-Share Index declined by 353.51 basis points or 0.35 per cent, to close at 99,311.54 basis points. Similarly, the overall market capitalisation value lost N200 billion to close at N56.167 trillion.
The market negative performance was driven by price depreciation in large and medium capitalised stocks which are Nestle Nigeria, FBN Holdings (FBNH), Zenith Bank, Oando and Guaranty Trust Holding Company (GTCO).
Market breadth closed negative, as 16 stocks gained relative to 25 decliners. SUNU Assurance recorded the highest price gain of 10 per cent to close at N1.10, per share. Japaul Gold & Ventures followed with a gain of 9.84 per cent to close at N2.01, while CAP up by 9.38 per cent to close at N26.25 per share.
Omatek Ventures appreciated by 9.21 per cent to close at 83 kobo, while Industrial and Prestige Assurance rose by 9.09 per cent to close at 60 kobo, per share.
On the other hand, Honeywell Flour Mill led the losers’ chart by 9.89 per cent to close at N3.19, per share. FBNH followed with a decline of 9.88 per cent to close at N21.90, while Oando lost 9.82 per cent to close at N10.10, per share.
FTN Cocoa processors lost 9.40 per cent to close at N1.35, while Nestle Nigeria depreciated by 8.89 per cent to close at N820.00, per share.
However, the total volume traded increased by 87.34 per cent to 574.426 million units, valued at N7.843 billion, and exchanged in 7,324 deals. Transactions in the shares of Transnational Corporations (Transcorp) topped the activity chart with 125.700 million shares valued at N1.892 billion. UPDC Real Estate Investment Trust followed with 121.199 million shares worth N605.595 million, while United Bank for Africa (UBA) traded 55.486 million shares valued at N1.278 billion.
Access Holdings traded 51.473 million shares valued at N833.254 million, while Universal Insurance transacted 50.839 million shares worth N19.134 million.
