Equities Market Snaps Winning Streak, Down By N621bn

The Nigerian equities market yesterday succumbed to sell pressures as the overall capitalisation shed N621 billion, ending its four-day winning streak.

The All Share Index (ASI) lost by 234.95 points, representing a decrease of 1.75 per cent to close at 97,992.55 points. Also, market capitalisation declined by N143 billion to close at N59.391 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are: Presco, Oando, Guaranty Trust Holding Company (GTCO), Access Holdings and United Bank for Africa (UBA).

However, market breadth closed positive as 36 stocks gained relative to 24 losers. Austin Laz & Company recorded the highest price gain of 10 per cent to close at N2.42, while Eunisell Interlinked followed with a gain of 9.98 per cent to close at N17.52, per share.

Haldane McCall went up by 9.95 per cent to close at N4.64, while Honeywell Flour Mills and SUNU Assurance appreciated by 9.93 per cent each to close at N4.98 and N2.99, per share.

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On the other hand, Wapic Insurance led the losers’ chart by 9.82 per cent to close at N1.01, per share. University Press followed with a decline of 9.09 per cent to close at N3.50, while Sovereign Trust Insurance up by 8.96 per cent to close at 61 kobo, per share.

Universal Insurance depreciated by 8.82 per cent to close at 31 kobo, while Japaul Gold & Ventures declined by 8.26 per cent to close at N2.11, per share.

The total volume traded rose by 23.2 per cent to 467.676 million units, valued at N9.590 billion, and exchanged in 10,659 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 51.107 million shares valued at N1.380 billion. Tantalizer followed with 48.780 million shares worth N52.531 million, while Lafarge Africa traded 39.670 million shares valued at N2.315 billion.

Fidelity Bank traded 26.622 million shares valued at N429.990 million, while Zenith Bank sold 22.321 million shares worth N997.672 million.