The domestic equities market yesterday closed on a negative tone, as price decline in FBN Holdings (FBNH) Plc and 28 others dragged the overall capitalisation lower by N192 billion.
The All-Share Index (ASI) lost 350.72 points, representing a decline of 0.49 per cent to close at 71,457.92 points. Also, market capitalisation declined by N192 billion to close at N39.103 trillion.
The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; FBNH, Access Holdings, Flour Mills of Nigeria, Zenith Bank and Guaranty Trust Holding Company (GTCO).
As measured by market breadth, market sentiment was negative, as 29 stocks lost relative to 24 gainers. Multiverse Mining and Exploration emerged the highest price gainer of 9.91 per cent to close at N8.54, per share. SCOA Nigeria and AXA Mansard Insurance followed with a gain of 9.76 per cent each to close at N1.35 and N4.50 respectively, while The Initiates Plc (TIP) and Infinity Trust Mortgage Bank rose by 9.52 per cent each to close at N1.15 and N1.61 respectively, per share.
On the other side, FBNH led the losers’ chart with 9.86 per cent to close at N26.50, per share. Secure Electronic Technology followed with a decline of 9.64 per cent to close at 75 kobo, while Deap Capital Management & Trust shed 9.46 per cent to close at 67 kobo, per share.
Champion Breweries depreciated by 7.04 per cent to close at N3.30, while Tantalizers down by 6.00 per cent to close at 47 kobo, per share.
The total volume traded decreased by 36.7 per cent to 436.56 million units, valued at N7.55 billion, and exchanged in 7,096 deals. Transactions in the shares of Universal Insurance led the activity with 52.725 million shares worth N13.492 million. Veritas Kapital Assurance followed with account of 44.573 million shares valued at N15.323 million, while Nigerian Breweries traded 37.461 million shares valued at N1.388 billion.
Access Holdings traded 34.651 million shares worth N705.853 million, while Zenith Bank traded 31.620 million shares worth N1.121 billion.