Bearish Trading Continues As Equities Investors Drops to N189bn
The Nigerian equities market on Thursday closed with a decline of N189 billion as investors maintained a standoffish approach towards the market.
Consequently, the All Share Index (ASI) dipped by 1,564.52 points, representing a loss of 1.49 per cent to close at 103,110.15 points. Also, market capitalisation depreciated by N189 billion to close at N56.268 trillion.
The negative performance was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Seplat Energy, Ikeja Hotels, Oando, Transnational Corporation (Transcorp) and Dangote Sugar Refinery.
Investor sentiment, as measured by market breadth closed positive as 21 stocks advanced, while 18 declined.
Linkage Assurance recorded the highest price gain of 9.80 per cent to close at N1.12, per share. DAAR Communication followed with a gain of 9.62 per cent to close at 57 kobo, while Vitafoam Nigeria rose by 7.61 per cent to close at N21.20, per share.
Livestock Ellah up by 7.32 per cent to close at N2.20, while MeCure Industries appreciated by 4.49 per cent to close at N10.00, per share.
On the other hand, Ikeja Hotel led the losers’ chart by 9.29 per cent to close at N6.35, per share. Honeywell Flour Mills followed with a decline of 8.41 per cent to close at N3.16 and Seplat Energy shed 8.30 per cent to close at N3,480.00, per share.
Champion Breweries went down by 7.55 per cent to close at N3.06, while SUNU Assurance declined by 4.62 per cent to close at N1.24, per share.
The total volume traded declined by 68.27 per cent to 296.732 million units, valued at N5.448 billion, and exchanged in 7,126 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 46.784 million shares valued at N482.459 million. Linkage Assurance followed with 32.122 million shares worth N35.965 million, while Access Holdings traded 23.235 million shares valued at N445.715 million.
Transcorp traded 22.139 million shares valued at N266.064 million, while AIICO Insurance sold 15.633 million shares worth N17.247 million.
