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Equities Market Falters As ASI Down N112bn

by Olushola Bello
3 years ago
in Business
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The domestic equities market moderated by N112 billion or 0.42 per cent, following a sell-off on mid and large-cap stocks.

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The All Share Index (ASI) decreased by 206.87 absolute points, representing a dip of 0.42 per cent to close at 48,964.83 points. Similarly, the market capitalisation closed at N26.419 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, United Capital, Africa Prudential, FCMB Group and Guaranty Trust Holding Company (GTCO).

The market breadth closed negative, with 14 losers versus 12 gainers. Jaiz Bank  recorded the highest price gain of 9.21 per cent to close at 83 kobo, per share. Ikeja Hotel followed with a gain 8.77 per cent to close at N1.24, while Multiverse Mining and Exploration rose 8.21 per cent to close at N3.69, per share.

Consolidated Hallmark Insurance went up by 7.55 per cent to close at 57 kobo, while Chams appreciated by 7.41 per cent to close at 29 kobo, per share. On the other hand, Nestle Nigeria led the losers’ chart by 10 per cent to close at N1,215.00, per share. Africa Prudential followed with a decline of 8.26 per cent to close at N5.00, while FCMB Group declined by 6.00 per cent to close at N3.29, per share.

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AIICO Insurance lost 5.45 per cent to close at 52 kobo, while United Capital  shed 4.26 per cent to close at N11.25, per share.

Meanwhile, the total volume traded rose by 117.3 per cent to 220.78 million shares, worth N2.253 billion, and traded in 3,105 deals. Transactions in the shares of Jaiz Bank topped the activity chart with 35.909 million shares valued at N65.090 million. Zenith Bank followed with 14.171 million shares worth N282.447 million, while Veritas Kapital Assurance traded 11.289 million shares valued at N2.258 million.

Stanbic Holdings traded 10.224 million shares valued at N306.719 million, while Guaranty Trust Holding Company transacted 10.003 million shares worth N179.598 million.

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Olushola Bello

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