Again, equity market sheds N96bn

The local stock market closed trading on Thursday on a negative note, shedding N96 billion with the anticipated rise in exchange rate and fuel prices.The market capitalisation of listed equities declined further by 0.27 per cent to N35.273 trillion from N35.369 trillion reported the previous day.The decline led the benchmark index, NGX ASI, to witness a decline of 176.32 basis points, concluding at 64448.96 points from 64,625.28 points reported on Wednesday.An analysis of the investment showed that JohnHolt led gainers table in percentage terms, gaining 10 per cent to close at N1.32 per share, CWG followed with a gain of 9.76 per cent to close at N3.60 per share, Prestige insurance gained 8.33 per cent to close at N0.52 per unit, Cutix Plc added 8.00 per cent to close at N2.70 while Linkage Assurance gained 7.69 per cent to close at N0.98 per unit.On the contrary Guinness Nigeria Plc topped losers chart, dropping by 8.57 per cent to close at N0.32 per unit, RTBriscoe trailed with 8.16 per cent to close at N0.45 per unit, Chi Plc loss 7.61 per cent to close at N0.85 per share, SUNU Assurance dipped by 6.98 per cent to close at N0.80 per unit, Deep Capital declined by 6.67 per cent to close at N0.28 per share.The volume of trades increased by 28.63 million, representing 9.82 per cent as investors traded 320.346 million shares valued at N3.729 billion in 5176 deals against 291.714 million shares costing N7.432 billion in 6213 deals.Transactions in the shares of Fidelity Bank led market activities with 80.045 million shares valued at N595.543 million, Transnational Corporation of Nigeria followed with 34.268 million shares worth N137.206 million, United Bank for Africa traded 24.398 million shares cost N340.020 million , Universal Insurance traded 22.429 million shares worth N5.062 million , FBNHoldings exchanged 19.096 million shares cost N353.481 million.

Investors trade N7.432bn worth of shares

The volume of transactions on the floor of Nigerian Exchange (NGX) on Wednesday increased as investors traded 291.714 million shares valued at N7.432 billion in 6213 deals. This is against 280.468 million shares worth N4.645 billion in 6296 deals on Tuesday. The market capitalisation of listed equities at the close of trading appreciated   by N13 billion or 0.04 per cent to N35.369 trillion from N35.356 trillion reported the previous day. But the NGX All Share Index depreciated by 303.70 basis points to 64625.28 points from 64928.98 points traded on Tuesday. An analysis of the investment for the day showed that  Eterna Plc led gainers table, increasing by 10 per cent to close at N17.60 per share, CWG followed with a gain of 8.61 per cent to close at N3.28 per unit, FTNCocoa gained 6.97 per cent to close at N2.15 per share, Livestock added 5.56 per cent to close at N1.90 while Vitafoam Nigeria Plc grew by 4.78 per cent to close at N21.90 per unit. On the contrary, NEM Insurance topped losers chart, dropping 10 per cent to close at N5.40 per share, SUNU Assurance trailed with a loss 8.51 per cent to close at N0.86 per share, Guinness Nigeria Plc down by 7.89 per cent to close at N0.35 per unit, Cornerstone Insurance 7.09 per cent to close at N1.31 per share, Omatek fell by 5.88 per cent to close at N0.32 per share. The result further showed that transactions in the shares of  GTCO Plc led activities with 41.746 million shares valued at N1.552 billion, Universal insurance followed with account of 22.841 million worth N5.169 million, United Bank for Africa exchanged 22.553 million shares cost N315.379 million, Sterling Bank traded 21.642 million shares worth N76.981 million Transcorp traded 15.703 million shares valued at N62.652 million.