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Japaul Gold, Neimeth lead NGX N49 billion loss

By Helen Oji
18 November 2021   |   3:01 am
Transactions on the equities sector of the Nigerian Exchange Limited (NGX) closed on a decline yesterday, occasioned by losses in many bluechip stocks, especially Japaul Gold

[FILES] Nigerian Exchange Group (NGX). Photo/facebook/ngxgroup

Transactions on the equities sector of the Nigerian Exchange Limited (NGX) closed on a decline yesterday, occasioned by losses in many bluechip stocks, especially Japaul Gold and Neimeth as market capitalisation depreciated by N49 billion.

In summary, the All-Share Index (ASI) dipped by 94.30 absolute points, representing a decrease of 0.22 per cent, to close at 43,349.90 points. Similarly, the overall market capitalisation value declined by N49 billion to close at N22.623 trillion.

The negative performance was driven by price depreciation in large and medium capitalised stocks which are; Unilever Nigeria, Ardova Plc, Guaranty Trust Holding Company (GTCO), Flour Mills of Nigeria and Access Bank.

Analysts at Vetiva Dealing and Brokerage, said: “We anticipate another mixed session tomorrow, dominated by trades in FBNH, Nestle among other high cap counters.

“We also expect investors to continue to take profit on some stocks while buying up other fundamentally sound names.”

Market breadth was negative as 24 stocks declined against 14 gainers. Associated Bus Company recorded the highest price gain of 10 per cent to close at 33 kobo.

Chams followed with a gain of 4.55 per cent to close at 23 kobo and Cutix went up 3.08 per cent to close at N3.35 kobo.

Wema Bank up by 2.35 per cent to close at 87 kobo, while Transnational Corporation of Nigeria (Transcorp) appreciated by 2.06 per cent to close at 99 kobo. On the other hand, Japaul Gold and Ventures and Neimeth International Pharmaceuticals led the losers’ chart by 9.09 per cent each to close at 40 kobo and N1.80 respectively, while Unity Bank followed with a decline of 8.47 per cent to close at 54 kobo.

Consolidated Hallmark Insurance declined 8.06 per cent to close at 57 kobo, while Unilever Nigeria shed 7.53 per cent to close at N13.50 kobo.

Meanwhile, the total volume of trades fell by 37.5 per cent to 264.789 million units, valued at N6.085 billion, and exchanged in 4,230 deals.

Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 68.612 million shares valued at N856.175 million.

International Breweries followed with 36.694 million shares worth N201.823 million, while GTCO traded 24.221 million shares valued at N644.044 million.

Unity Bank traded 9.509 million shares valued at N5.145 million, while Access Bank transacted 9.466 million shares worth N87.281 million.