Investors Profit in NASCON Allied, 18 Others Down Equities Market

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The domestic equities market on Wednesday declined by 0.005 per cent, following profit-taking activities in NASCON Allied Industries Plc and 18 others.


Thus, the Nigerian Exchange Limited All-Share Index (NGX ASI) declined by 4.53 basis points or 0.005 per cent, to close at 98,223.97 basis points. Similarly, the overall market capitalisation value shed N3 billion to close at N55.552 trillion.


Investor sentiment, as measured by market breadth closed negative as 14 stocks advanced, while 19 declined. Okomu Oil recorded the highest price gain of 9.98 per cent to close at N255.70, per share. Tantalizers followed with a gain of 8.33 per cent to close at 39 kobo and Cutix up by 5.26 per cent to close at N3.00, per share.


The Initiates Plc (TIP) rose by 4.76 per cent to close at N2.20, while Wapic Insurance appreciated by 4.41 per cent to close at 71 kobo, per share.


On the other hand, PZ Cussons Nigeria led the losers’ chart by 10 per cent to close at N34.20, per share. International Breweries followed with a decline of 9.89 per cent to close at N3.92, while McNichols lost 9.73 per cent to close at N1.02, per share.


Sterling Financial Holdings Company down by 9.59 per cent to close at N4.43, while Linkage Assurance declined by 9.41 per cent to close at 77 kobo, per share.


The total volume traded declined by 25.04 per cent to 319.077 million units, valued at N9.178 billion, and exchanged in 8,121 deals. Transactions in the shares of United Bank for Africa (UBA) topped the activity chart with 79.979 million shares valued at N2.074 billion. Transnational Corporations (Transcorp) followed with 38.586 million shares worth N472.368 million, while Access Holdings traded 34.065 million shares valued at N594.523 million.


GTCO traded 25.206 million shares valued at N968.613 million, while Fidelity Bank transacted 12.629 million shares worth N112.980 million.