Following persistent profit taking by investors, the Nigerian equities market yesterday, extended its downward trend, as capitalisation declined by N91 billion.

The All Share Index (ASI) dropped by 142.95 points, representing a decline of 0.10 per cent to close at 155,353.20 points. Also, market capitalisation shed N91 billion to close at N 98.607 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Lafarge Africa, Zenith Bank, PZ Cussons Nigeria, Ikeja Hotel and CAP.

Market sentiment remained negative, with 36 declining stocks outnumbering 27 gainers. Sovereign Trust Insurance recorded the highest price gain of 9.88 per cent to close at N4.45, per share. ASO Savings & Loans followed with a gain of 9.72 per cent to close at 79 kobo, while Berger Paints went up by 9.25 per cent to close at N42.50 kobo.

Wapic Insurance rose by 6.90 per cent to close at N3.10, while AIICO Insurance up by 6.13 per cent to close at N3.98 kobo. On the other hand, McNichols led the losers’ chart by 8.81 per cent to close at N3.00, while Lasaco Assurance followed with a decline of 8.62 per cent to close at N2.65 kobo.

Livestock Feeds and John Holts depreciated by 7.69 per cent each to close at N7.20 and N6.00 respectively, while Ikeja Hotels declined by 7.32 per cent to close at N19 kobo.

Also, the total volume traded increased by 4.46 per cent to 525.448 million units, valued at N25.395 billion, and exchanged in 32,430 deals. Transactions in the shares of Sovereign Trust Insurance topped the activity chart with 42.645 million shares valued at N187.292 million.

Fidelity Bank followed with 41.966 million shares worth N797.230 million, while First Holdco traded 37.729 million shares valued at N1.189 billio.
Zenith Bank traded 28.142 million shares valued at N1.800 billion, while Stanbic IBTC Holdings sold 27.509 million shares worth N3.026 billion.