Equities Market Return Falls as NGX Lost N196bn
Equities market return falls below 23% year to date after sustained profit-taking on the local exchange as investors lost N196 billion on Thursday. The local bourse traded positively for most of the day, however late profit-taking activities in BUAFOODS (-10.0%) and AIRTELAFRI (-1.2%) drag market capitalisation lower,
Specifically, the market capitalisation decreased by N196.40 billion to N28.255 trillion from N28.451 trillion posted on Wednesday. Similarly, the All-Share Index (ASI) declined to 52,411.09 points, or 0.69 per cent, from 52,775.40 points recorded on Wednesday.
The market breadth was negative as 12 stocks advanced and 22 stocks declined. An analysis of the price movement chart shows that Linkage Assurance led the gainers’ table, growing by 9.80 per cent to close at 56k per share. Courtville Business Solutions followed with eight per cent to close at 54k, while JapaulGold gained by 6.90 per cent to close at 31k per share.
Chams rose by 4.17 per cent to close at 25k, while UPDC added by 4.08 per cent to close at N1.02 per share. Conversely, Conoil topped the losers’ chart, dropping by 10 per cent to close at N28.80 per share. READ: DMO to Auction More Bonds as Yield Falls
Bua Foods led the gainers’ list with 9.97 per cent to close at N53.75, while ETranzact dropped by 9.96 per cent to close at N2.44. CWG and Eterna Oil declined by 9.62 per cent and 6.25 per cent to close at 94k and N7.50, respectively.
Also, the market turnover increased to N2.37 billion from N2.36 billion. Sterling Bank was the toast of investors during the day, exchanging 63.66 million shares valued at N97.45 billion. Meanwhile, Zenith Bank traded 17.34 million shares valued at N382.57 million.
United Bank for Africa (UBA) followed with an account of 17.33 million shares worth N131.85 million. Transcorp exchanged 16.17 million shares worth N21.04 million and First Bank of Nigeria Holdings (FBNH) sold 10.3 million shares worth N101.02 million.
The total volume of shares traded stood at 211,62 million units, valued at N2.37 billion, and exchanged in deals. Equities Market Return Falls as NGX Lost N196bn