New Telegraph

Equities record midweek decline of N11bn


Trading activities on the floor of the Nigerian Exchange Limited (NGX) yesterday witnessed another share price loss as bears kept their grip following selloff. The bourse recorded 13 gainers against 17 losers. Consequently, the All- Share Index dipped 21.16 basis points or 0.05 per cent to close at 38,852.69 index points as against 38,873.85 recorded the previous day, while market capitalisation of equities depreciated by N11 billion from N20.242 trillion the previous day to N20.253 trillion as market sentiment remained in the negative territory. Meanwhile, a turnover of 155.77 million shares exchanged in 3,256 deals was recorded in the day’s trading.

The premium sub-sector was the most active (measured by turnover volume), with 42.81 million shares exchanged by investors in 1,081 deals. Volume in the subsector was largely driven by activities in shares of UBA Plc and Zenith Bank Plc. Also, the banking subsector, boosted by activities in shares of GTCO Plc and ETI Plc, followed with a turnover of 30.46 million shares in 463 deals. Further analysis of the day’s trading showed that in percentage terms, Transcorp Hotel Plc topped the day’s gainers’ table by 10 per cent to close at N4.95 per share, while PharmaDeko Plc followed with 9.88 per cent to close at N1.78 per share.

Conoil Plc added 9.84 per cent to close at N24.55 per share. On the flip side, Veritas Kapital Plc led the losers by 8.70 per cent to close at 21 kobo per share, while UCAP Plc shed five per cent to close at N8.55 per share. Chams Plc trailed with 4.55 per cent to close at 21 kobo per share.

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