Bears Continue To Dominate As Equity Market Sheds N112bn

Bears continued to dominate the domestic equity market as investors’ weather depleted by N112 billion as sell off in the shares of companies in the financial services sector impacted on the market. Market capitalisation of listed equities declined by 0.31 per cent to N36.367 trillion from N36.479 trillion reported the previous day. The NGX benchmark index declined by 203.54 basis points to 66448.63 points from 66,652.17 points traded the previous day. The trading result showed that RTBriscoe led gainers table with 9.76 per cent to N0.45 per unit, CWG followed with a gain of 9.72 per cent to close at N7.90 per share, Betaglass gained 9.55 per cent to close at N56.20 per unit, Veritas Kapital gained 8.33 per cent to close at N0.26 per unit, Cornerstone Insurance added 7.88 per cent to close at N1.76 per share. On the contrary, Vitafoam Nigeria Plc topped losers chart in percentage terms, shedding 9.92 per cent to close at N22.25 per unit FTNCocoa trailed with a loss of 9.88 per cent to close at N1.55 per share, Oando Plc down by 9.84 per cent to close at N8.70 per unit, JohnHolt dipped by 9.39 per cent to N1.64 per share,United Capital declined by 7.20 per cent to close at N16.10 per unit. Volume of trades for the day declined also by 90.191 million, representing 24.78 per cent as Investors traded 273.798 million shares valued at N3.412 billion in 6826 deals against 363.989 million shares worth N4.529 billion in 7018 deals.AccessCorp led market activities with 45.877 million shares valued at N710.626 million, Zenith Bank followed with 21.116 million shares cost N657.222 million, Unity Bank traded 19.835 million shares cost N192.391 million, United Bank for Africa exchanged 17.294 million shares cost N279.315 million, Transnational Corporation of Nigeria exchanged 15.728 million shares worth  N93.924 million.

As profit taking persists, Nigeria’s equity market sheds N112bn

Trading activities on the floor of Nigerian Exchange (NGX) Thursday continued on a negative note, shedding N112 billion as profit taking by investors persisted in the market. Profit taking in the shares of Dangote Sugar, Dangote Cement, Nascon impacted on the market at the end of the trading session. Specifically, market capitalisation of listed equities declined by 0.30 per cent to N37.261 trillion from N37.373 trillion reported the previous day. The NGX All Share Index also depreciated by 204.17 basis points to 68082.11 points from 68286.28 points reported on Wednesday. Betaglass led gainers table, gaining 9.97 per cent to close at N51.85 per unit, Cadbury Nigeria Plc followed with a gain of 9.86 per cent to close at N15.60 per share, CWG gained 9.81 per cent to N5.26 per unit, Tantalizer gained 9.52 per cent to close at N0.46 per share, Guinea Insurance added 9.09 per cent to close at N0.36 per share. On the contrary, Morison Industry recorded the highest loss with 9.89 per cent to close at N2.55 per unit, Courtvellle Business Solutions trailed with a loss of 7.69 per cent to close at N0.60 per unit, Nascon dipped by 6.83 per cent to close at N56.60 per unit, RTBriscoe went down by 6.82 per cent to close at N0.41 per share while Wema Bank dipped by 6.42 per cent to close at N5.10 per share. Investors traded 378.089 million shares valued at N8.376 billion in 8106 deals against 378.654 million shares valued at N5.482 billion in 7671 deals. Transactions in the shares of Oando led market activities with 91.635 million shares valued at N678.965 million, Omatek trailed with account of 29.972 million shares valued at N19.207 million, Dangote Sugar Refinery traded 23.393 million shares valued at N1.483 million, Fidelity Bank exchanged 22.165 million shares cost N193.576 million, AccessCorp exchanged 20.803 million shares cost N361.865 million.

Nigeria’s equity market sheds N27bn

The local equity market on Wednesday returned to negative trend shedding N27 billion or 0.07 per cent to N37.373 trillion from N37.400 trillion reported the previous day. The NGX All Share Index also depreciated by 48.40 basis points to 68286.28 points from 68334.68 points reported the previous day. Volume of shares traded during the day declined by 179.198 million, representing 47.32 per cent as investors traded 378.654 million shares valued at N5.482 billion in 7671 deals against 557.852 million shares worth N10.210 billion exchanged hands the previous day in 9818 deals. Meanwhile, the domestic equity continued in positive trajectory for the fourth straight month to August with 3.44 per cent growth  month on month gains to close at 66,548.99 points, beating a 15-year high since March 2008. The bullish performance was spurred by strong investor sentiments in the consumer goods and Insurance sectors. Capital market operators also said that the positive interim dividend payments by corporates and strong search for gains by investors drove the rally which gave equity investors a total of N1.4 trillion in the month while the market capitalization of listed equities closed at N36.42 trillion and then the year to date return printed at 29.8 per cent. However, an analysis of the investment showed that Guinea Insurance led gainers table with 10 per cent to N0.23 per unit, Betaglass followed with a gain of 9.91 per cent to close at N47.15 per per share, Caverton gained 9.84 per cent to close at N1.34 per unit, Oando Plc added 9.70 per cent to close at N7.35 per unit, CWG added 9.11 per cent to close at N4.79 per unit. On the contrary, Vitafoam Nigeria Plc topped losers chart, declining by 10 per cent to close at N22.50 per share, Veritas Kapital trailed with a loss of 7.69 per cent to N0.24 per share, Linkage Assurance fell by 5.56 per cent to close at N0.85 per unit, Dangote Sugar Refinery dipped by 4.76 per cent to close at N66.65 per unit while International Breweries down by 4.35 per cent to N4.40 per unit. Transactions in the shares of Oando Plc led market activities with 83.526 million shares valued at N609.377 million, United Bank for Africa followed with account 35.627 million shares cost N533.748 million, Transnational Corporation of Nigeria exchanged 26.657 million shares cost N177.694 million, AccessCorp traded 18.534 million shares cost N321.080 million while Omatek exchanged 15.729 million shares cost N9.437 million.