Losses in UACN, 21 stocks drag market capitalisation by N26 billion

The Nigerian equities market reopened in a downturn yesterday, following losses, in UACN and 21 stocks, as market capitalisation depreciated by N26 billion.

At the close of transactions, market capitalisation of listed equities declined by 0.09 per cent to close at N29.517 trillion from N29.543 trillion it closed on Friday.

The All Share index also depreciated by 48.00 basis points to 54184.34 points from 54232.34 points traded the previous day. The downturn was impacted by losses recorded in medium and large capitalised stocks, among which are: UACN, Eterna, PZ Cussons, Champion Breweries, Ecobank TransNational Incorporated and International Breweries.

On the price movement chart, 22 stocks depreciated in price, while 17 constituted the gainers’ chart. SCOA Plc topped the losers’ chart, shedding 10 per cent to close at 90 kobo while, UACN followed with a drop of 9.95 per cent to close at N8.60 kobo per share. SUNU Assurance fell by 9.62 per cent to close at 47 kobo per share. Eterna fell by 9.56 per cent to close at N6.15 kobo, ABC Transport dipped by 8.11 per cent to close at 34 kobo per share.

RT Briscoe lost eight per cent to close at 23 kobo. Wapic Insurance shed 7.50 per cent to close at 37 kobo. International Breweries depreciated by 6.67 per cent to close at N4.20 kobo. International Breweries depreciated by 6.67 per cent to close at N4.20 kobo. Champion Breweries shed 6.31 per cent to close at N5.20 kobo.

UPDC declined by 5.61 per cent to close at N1.01 kobo. NEM insurance also depreciated by 4.47 per cent to close at N4.06 kobo. On the other hand, Mansard Insurance and Lasaco Assurance led the gainers’ chart, adding 10 per cent each to close at N2.09 and N1.21 kobo per share respectively.

Nigerian Aviation Handling Company (NAHCO) followed with a gain of 9.88 per cent to close at N8.90 kobo per share. Ikeja Hotel added 8.20 per cent to close at N1. 32 kobo. FTN Cocoa gained 1.69 per cent to close at 28 kobo per share.

FTN Cocoa appreciated by 7.69 per cent to close at 28 kobo while CWG garnered 5.75 per cent to close at 92 kobo. Japaul Gold increased by 3.57 per cent to close at 29 kobo. AIICO improved by 3.45 per cent to close at 60 kobo.

United Capital improved by 3.13 per cent to close at N11.55 kobo. Mutual Benefit Assurance also added 3.13 per cent to close at 33 kobo. Linkage Assurance increased by 2.33 per cent to close at 44 kobo. Unity Bank also gained 1.96 per cent to close at 52 kobo.

Investors traded 292.559 million shares valued at N2.380 billion in 4408 deals against 557.933 million shares worth N3.680 billion exchanged hands in 3943 deals. Transactions in the shares of Fidelity Bank led activity chart for the day, with 79.301 million shares valued at N426.800 million,

Transcorp followed with account of 28.777 million shares valued at N39.874 million, United Bank for Africa traded 26.814 million share valued at N224.105 million Access Corp traded 17.077 million shares worth N153.609 million while Oando traded 13.047 million share valued at N73. 644 million.