The Nigerian equities market yesterday closed negative for the third consecutive trading session, as investors lost N5 billion on investment amid sell-offs.
The All-Share Index (ASI) lost 9.95 points, representing a loss of 0.01 per cent to close at 97,477.19 points. Also, market capitalisation declined by N5 billion to close at N56.014 trillion.
The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Fidson Healthcare, Nigerian Breweries, Fidelity Bank, United Bank for Africa (UBA) and Africa Prudential.
Meanwhile, market breadth closed slightly positive, as 23 stocks gained relative to 22 stocks that declined. Regency Alliance Insurance emerged the highest price gainer of 10 per cent to close at 66 kobo, per share. Caverton Offshore Support Group followed with a gain of 9.73 per cent to close at N2.48, while Royal Exchange advanced by 8.70 per cent to close at 75 kobo, per share.
ABC Transport rose by 8.20 per cent to close at N1.32, while University Press appreciated by 7.14 per cent to close at N2.55, per share.
On the other side, DAAR Communications led others on the losers’ chart with 10 per cent to close at 63 kobo, while Livestock Feeds followed with a decline of 9.88 per cent to close at N3.10, per share.
SUNU Assurance and Fidson Healthcare went down by 9.71 per cent each to close at N1.58 and N13.95 respectively, while Consolidated Hallmark Holdings depreciated by 9.29 per cent to close at N1.27, per share.
The total volume of trade decreased by 22.01 per cent to 277.745 million units, valued at N4.653 billion, and exchanged in 7,091 deals. Transactions in the shares of Fidelity Bank led the activity with 43.338 million shares worth N644.786 million. UBA followed with 30.685 million shares valued at N820.733 million, while Zenith Bank traded 25.552 million shares valued at N956.671 million.
Lasaco Assurance traded 22.118 million shares worth N59.736 million, while Access Holdings traded 18.460 million shares worth N361.249 million.
