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NB, Stanbic IBTC,16 Others Depress Equities Market



Losses recorded yesterday in 18 stocks pulled the Nigerian equities market down by 0.11 per cent.

The All Share Index (ASI) shed 45.90 absolute points, representing a decline of 0.11 per cent to close at 41,243.24 points. Similarly, the market capitalisation shed N17 billion to close at N14.914 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nigerian Breweries, Stanbic IBTC, FBN Holdings, Guaranty Trust Bank and UAC Property.

Analysts at United Capital said “we expect to see some mixed performance as investors seek triggers beyond the first quarter, 2018 earnings filing.”

However, market breadth closed positive, with 21 gainers versus 18 losers. Eterna recorded the highest price gain of 9.76 per cent, to close at N6.30 per share. CI Leasing gained five per cent to close at N1.89, while Oando appreciated by 4.79 per cent to close at N8.75 per share.

Aiico Insurance appreciated by 4.35 per cent to close at 72 kobo, while Mutual Benefit Insurance went up by 3.85 per cent to close at 27 kobo0 per share.

On the other hand, Unity Bank led the losers’ chart by five per cent, to close at N1.14 per share. UAC Property shed 4.88 per cent to close at N2.34, while NPF Microfinance Bank depreciated by 4.74 per cent to close at N1.81 per share. Linkage Assurance declined by 4.71 per cent to close at 81 kobo, while First Aluminum depreciated by 4.08 per cent to close at 47 kobo per share.

The total volume traded depreciated by 21.9 per cent to 221.4 million shares, worth N2.57 billion, and traded in 5,629 deals. Transactions in the shares of Lasaco Assurance topped the activity chart with 24.32 million shares valued at N9.67 million. Guaranty Trust Bank followed with 20.68 million shares worth N937.57 million, while Sovereign Trust Insurance traded 16.59 million shares valued at N3.63 million.

Mutual Benefit Insurance traded 15.94 million shares valued at N4.3 million, while Sterling Bank transacted 15.56 million shares worth N25.67 million.