Nigeria’s equities market sustains bearish run, sheds N165bn
The domestic equity market on Friday sustained a negative trajectory at the Nigerian Exchange, declining N165 billion as losses in the shares of Oando Plc, Zenith, Access Holdings company mount pressure on the market.
The market capitalisation of listed equity declined by 0.19 per cent to N88.769 trillion from N88.734 trillion reported the previous day.
The NGX All Share Index also depreciated by 261.75 basis points to 140295.49 points from 140557.24 points reported on Thursday, bringing year to date return down to 36.30 per cent.
The negative performance during the day was driven by sell off in some banking, insurance and other stocks which helped drag the NGX index downward.
READ ALSO: SIGNIFICANT UPSIDE: NGX index projected to deliver 39% in 2025
The market breadth was negative with 31 decliners against 18 advancers.
The volume of transactions declined by 449.882 million, representing 50.83 per cent as investors traded 435.140 million shares against 885.022 million traded the previous day, value of trades went down by 63.28 per cent to settle at N10.391 billion in 25609 deals.
A review of the trading during the day showed that Learn Africa led gainers with 9.86 per cent to close at N7.80 per unit; Union Dicon followed with a gain of 8.04 per cent to close at N12.10; Prestige insurance added 6.75 per cent to close at N1.74 per unit; Academy Press gained 6.11 per cent to close at N9.55 per unit; Omatek increased by 6.06 per cent to close at N1.40 per unit.
On the contrary, JohnHolt topped losers chart, dropping by 10 per cent to close at N6.30 per share; Lasaco Insurance trailed with a loss of 9.64 per cent to close at N3.00; Guinea Insurance down by 7.78 per cent to close at N1.42 per unit; Universal Insurance fell by 6.25 per cent to close at N1.20 per unit; NSLTech shed 5.56 per cent to close at N0.85 per share.
Transactions in the shares of VFD group Plc led market activities with 49.290 million shares valued at N542.709 million; NSLTech followed with 33.173 million shares worth N28.814 million; Access Holdings Company traded 26.854 million shares worth N716.975 million; GTCO Plc exchanged 21.331 million shares valued at N1.965 billion, while FirstHoldco traded 19.932 million shares worth N646.667 million.
