For the fourth consecutive session, the Nigerian equities market yesterday maintained the downward trend as the overall capitalisation closed N113 billion weaker. The All-Share Index shed by 200.84 points, representing a loss of 0.20 per cent, to close at 99,805.95 points. Similarly, the overall market capitalisation value lost N113 billion to close at N56.459 trillion.
The market negative performance was driven by price depreciation in large and medium capitalised stocks which are; Guaranty Trust Holding Company (GTCO), UACN, Africa Prudential, Ecobank Transnational Incorporated (ETI) and NASCON Allied Industries.However, market breadth closed positive, as 28 stocks gained relative to 24 losers. Champion Breweries recorded the highest price gain of 9.97 per cent to close at N3.31, per share. Cadbury Nigeria followed with a gain of 9.94 per cent to close at N28.25, while Eterna rose by 9.87 per cent to close at N16.70, per share.International Energy Insurance rose by 9.86 per cent to close at N1.56, while UPDC Real Estate Investment Trust gained 9.64 per cent to close at N4.55, per share.
On the other hand, Africa Prudential led the losers’ chart by 10 per cent to close at N8.10, per share. UACN followed with a decline of 7.28 per cent to close at N14.00, while RT Briscoe Nigeria lost 7.14 per cent to close at 65 kobo, per share. Ikeja Hotels NEIMETH declined 5.41 per cent to close at N7.00, while AIICO Insurance shed 5.17 per cent to close at N1.10, per share.
The total volume of trade declined by 38.74 per cent to 422.689 million units, valued at N53.956 billion, and exchanged in 8,256 deals. Transactions in the shares of Transcorp Power topped the activity chart with 118.631 million shares valued at N48.988 billion. Veritas Kapital Assurance followed with 36.300 million shares worth N47.253 million, while Fidelity Bank traded 33.694 million shares valued at N340.624 million.AIICO Insurance traded 25.803 million shares valued at N28.731million, while GTCO transacted 23.599 million shares worth N1.084 billion.
