Equities reverse losses as capitalisation dips by N4 billion
Trading on the Nigerian Exchange Limited (NGX) reversed gains, to close on a negative note yesterday, as losses in 17 stocks pulled market capitalisation by N4 billion.
Specifically, the All Share Index (ASI) depreciated by 6.61 basis points to 47102.64 points from 47109.25 points reported the previous day. Market capitalisation of listed equities declined by N4 billion or 0.01 per cent to N25.385 trillion from N25.389 trillion recorded on Wednesday.
Analysts at Vetiva Dealings said: “We expect market to close out the week on a tepid note baring any block trades to elevate activity level, while sectoral performance stay mixed.”
Investors yesterday traded 357.764 million shares valued at N6.482 billion in 4251 deals. This is against 318.269 million shares cost N8.27 billion exchanged hands the previous day in 4965 deals.
On the price movement chart, 17 stocks depreciated in price, while 32 others constituted the losers’ chart. CWG emerged the day’s highest price loser with 9.08 per cent to close at N1.11 kobo.
Champion Breweries followed with 8.89 per cent to close at N2.05 kobo. Lasaco dropped 7.08 per cent to close at N1.05 kobo. Seplat depreciated by 5.88 per cent to close at N800. Chams declined by 4.55 per cent to close at 21 kobo.
First City Monument Bank shed 4.15 per cent to close at N3. Veritas Kapital depreciated by 4.00 per cent to close at 24 kobo. Unity Capital lost 3.92 per cent to close at 49 kobo.
Chi dropped 3.17 per cent to close at 61 kobo. Eterna oil also shed 1.94 per cent to close at 5.55 kobo.
On the other hand, Northern Nigeria Flour mills and RT Briscoe led others on the gainers’ chart, adding 10.00 per cent each to close at N9.90 kobo and 55 kobo, while Honeywell flourmills followed with 9.91 per cent to close at N3.66 kobo.
Scoa gained 9.74 per cent to close at N2.14 kobo. Multiverse gained 9.09 per cent to close at 24 kobo. Pharmdeko added 8.89 per cent to close at N1.96 kobo. FTN Cocoa garnered 5.71 per cent to close at 37 kobo. PZ Cussons gained 5.43 per cent to close at 37 kobo. Neimeth also gained 4.97 per cent to close at N1.90 kobo.
GTCO Plc was the toast of investors during the day, exchanging 130.140 million shares valued at N341.578 million, United Capital followed with an account of 30.274 million shares worth N333.401 million.
Fidelity Bank exchanged 26.496 million shares worth N79.171 million, Access Bank traded 16.340 million shares worth N169.109 million, while FCMB group traded 14.317 million shares valued at N42.982 million.