Negative sentiment resurfaced in the equities sector of the market yesterday, as profit-taking in many blue-chip stocks, especially MTN Nigeria (MTNN) and Unilever, dragged the all-share index (ASI) by 0.5 per cent.

At the close of transactions yesterday, the market capitalisation of listed equities depreciated by N187 billion to N35.75 trillion from N35.93 trillion reported the previous day.

The NGX ASI also declined by 303.86 basis points to 65687.16 points from 65991.02 points it closed the previous day.

The downturn was impacted by price depreciation in large and medium capitalised stocks amongst which are MTN N, Unilever, Cadbury, NGX Group, FBN Holdings, Accesscorp, and Eternaoil.

Analysts attributed the downturn to profit-taking embarked upon by investors on the Exchange. According to them, investors leveraged the capital appreciation recorded in the market in the past few weeks to recoup their investments.

As measured by market breadth, market sentiment was positive with 32 stocks gaining while 24 stocks were on the losers’ chart.

Courteville Business Solutions, NCR and Seplat Energy led the gainers’ table in percentage terms with 10 per cent each to close at 66 kobo, N3.96 kobo and N1693.60 kobo while FTNCocoa followed with a gain of 9.92 per cent to close at N2.66 kobo, Japaul Gold also appreciated by 9.9 per cent to close at N1.11 kobo.

Livestock gained 9.90 kobo to close at N2.11 kobo. Learn Africa appreciated by 9.76 per cent to close at N4.05 kobo. Academy Press improved by 9.72 per cent to close at N2.37 per cent.

Chams rose by 9.52 per cent to close at N1.15 kobo. Sunu Assurance garnered 9.09 per cent to close at 60 kobo. Sky Aviation gained 8.44 per cent to close at N21.20 kobo. Cornerstone Insurance also increased by 7.95 per cent to close at 95 kobo.

On the contrary, Cadbury Nigeria Plc and Unilever Nigeria Plc recorded the highest loss, shedding 10 per cent each to close respectively too close at N15.30 kobo and N15.75 kobo while Multiverse trailed with a drop of 9.97 per cent to close at N2.71 kobo.

Omatek fell by 9.62 per cent to close at 47 kobo, Champion Breweries dropped 7.45 per cent to close at N3.48 kobo. Veritas Kapital dropped 6.90 kobo to close at 27 kobo. CHI Plc shed 6.42 per cent to close at N1.02 kobo.

RTBriscoe depreciated by 5.66 per cent to close at 50 kobo. Caverton fell by 5.56 per cent to close at N1.36 kobo. NGX Group dropped 5.19 per cent to close at N26.50 kobo. International Breweries shed 5.15 per cent to close at N4.60 kobo. FBN Holdings also lost 4.87 per cent to close at N20.50 kobo.

Investors traded 500.43 million shares valued at N7.14 billion in 7345 deals against 553.52 million shares worth N7.42 billion in 8313 deals.

Transactions in the shares of United Bank for Africa led the activity chart during the day with 58.309 million shares valued at N871.358 million.

AccessCorp Plc followed with an account of 55.244 million shares worth N991.195 million, Universal Insurance traded 32.664 million shares cost N7.638 million, FBNHoldings traded 28.026 million shares cost N590.512 million while Zenith Bank exchanged 26.476 million shares cost N933.512 million.