Trading activities on the floor of the Nigerian Exchange Limited (NGX), yesterday, witnessed a drop in share prices as bears regained grip following profit taking. The stock market had, during the previous day, recorded appreciable gain. The market breadth closed positive with 32 gainers against 17 losers. Consequently, the NGX All-Share Index dipped 6.61 basis points or 0.01 per cent to close at 47,102.64 index points as against 47,109.25 recorded the previous day, while market capitalisation of equities depreciated by N4 billion from N25.385 trillion the previous day to N25.389 trillion as market sentiment returned on the negative territory.
Meanwhile, a turnover of 357.76 million shares exchanged in 4,251 deals was recorded in the day’s trading. The banking sub-sector was the most active (measured by turnover volume) with 173.09 million shares exchanged by investors in 704 deals. Volume in the subsector was largely driven by activities in shares of GTCO Plc and Fidelity Bank Plc. Also, other financial institutions sub-sector, boosted by activities in shares of United Capital Plc and FCMB Plc, followed with a turnover of 48.20 million shares in 468 deals. Further analysis of the day’s trading showed that in percentage terms, NNFM and R.T Briscoe Plc topped the day’s gainers’ table by 10 per cent each to close at N9.90 and 55 kobo per share respectively, while Honeywell Flour Mills Plc followed with 9.91 per cent to close at N3.66 per share.
SCOA Plc added 9.74 per cent to close at N2.14 per share. On the flip side, CWG Plc led the losers by 9.76 per cent to close at N1.11per share while Champion Breweries Plc shed 8.89 per cent to close at N2.05 per share. Lasaco Assurance Plc trailed with 7.08 per cent to close at N1.05 per share.