Stocks extend losing streak as bearish run persists

• Cappa and D’Alberto to trade on over-the-counter market

THE equities market closed yesterday on a negative note, as Nigerian Stock Exchange [NSE] All Share Index [ASI] depreciated by -0.80% to close at 29,125.69 basis points, compared with the -2.08 per cent depreciation recorded previously. Its Year-to-Date (YTD) returns currently stands at 15.28 per cent.

  Market breadth also closed negative as Honeyflour led nine gainers against 25 losers topped by  at the end of yesterday’s session- an unimproved performance when compared with previous outlook.

   Market turnover closed negative as volume moved southwards by -11.98per cent against -15.67 per cent uptick recorded in the previous session. First Bank of Nigeria, Access and Guaranty were the most active to boost market turnover. Nigerian Breweries and Guaranty topped market value list.

  Volume shockers included PZ which led the list of active stocks that recorded impressive volume spike at the end of yesterday’s session.

   Meanwhile, Cappa and D’Alberto was now opened to trade on National Association of Securities Dealers [NASD] Over The Counter [OTC] Market

  196,875,000 ordinary shares of Cappa and D’Alberto Plc,  the   building and civil engineering company have opened to trade on the NASD OTC market. 

  The shares are the first to be classified in the construction/real estate segment of the market.  The company issued share capital of 98,437,500 with a nominal value of 50k and were jointly introduced by UBA Capital and Capital Bancorp Plc at ₦94.57 per share which was the last price attached to the shares before they delisted from the Nigerian Stock Exchange.

  New Authorised traders have also joined the NASD OTC. The three traders from Harmony Securities Limited, Lead Securities and Investment Limited and PAC securities  recently completed their induction course into the NASD OTC market. NASD now has 143 individual stockbrokers who are qualified to handle transactions on behalf of shareholders on the NASD OTC platform.