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Equities Market Shed 0.54%

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The Nigerian equities market yesterday fell by 0.54 per cent on renewed profit taking. In summary, the All Share Index (ASI) shed 233.93 absolute points, representing a growth of 0.54 per cent to close at 42,839.52 points. Similarly, the market capitalisation shed N76 billion, to close at N15.325 trillion. The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle, Total, Dangote Sugar, Cadbury and Nascon and Allied Products. Stocks market analysts attributed yesterday’s loss to weight shed in big capitalised banking stocks despite positive results declared by Guaranty Trust Bank and Stanbic IBTC.

Similarly, market breadth closed negative, recording 15 gainers against 42 losers. CI Leasing led the gainers table by 7.78 per cent to close at N1.94, Livestock and UAC Property followed with a gain of five per cent each to close at N1.05 and N3.15 per share, respectively. Also, NEM Insurance went up by 4.96 per cent to close at N2.75 and Fidson rose by 4.90 per cent to close at N5.14 per share. On the other hand, Lasaco Assurance led the laggards’ table by 9.52 per cent to close at 38 kobo per share. Japaul Oil trailed with a loss of 9.09 per cent to close at 80 kobo, while Diamond Bank declined by 7.34 per cent to close at N2.02 per share.

Multiverse Mining and Exploration dipped by 6.90 per cent to close at 27 kobo, while Courtville Business Solution went down by 6.67 per cent, to close at 28 kobo per share. Also, total volume traded declined by 8.43 per cent to 373.52 million shares, valued at N6.85 billion, and exchanged in 5,220 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 45.8 million shares valued at N131.49 million. Zenith Bank traded 36.34 million shares worth N1.11 billion and FBN Holdings transacted 34.11 million shares valued at N388.95 million. Mansard Insurance followed with 25.26 million shares worth N69.73 million, while FCMB Groups traded 25 million shares valued at N63.34 million.



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