New Telegraph

Equities record marginal loss

nngx

Trading on equities on the floor of the Nigerian Exchange Limited (NGX), yesterday, witnessed another drop in share prices as bears sustained grip following profit taking. The stock market had, during the previous day, also recorded marginal loss. The market breadth closed flat with 16 gainers against 16 losers. Consequently, the NGX All-Share Index dipped 5.34 basis points or 0.01 per cent to close at 38,858.99 index points as against 38.864.33 recorded the previous day while market capitalisation of equities depreciated by N3 billion from N20.245 trillion the previous day to N20.248 trillion as market sentiment returned on the negative territory.

Meanwhile, a turnover of 526.30 million shares exchanged in 3,535 deals was recorded in the day’s trading. The food product subsector was the most active (measured by turnover volume) with406.76 million shares exchanged by investors in 247 deals.

Volume in the subsector was largely driven by activities in shares of Honeywell Flour Mills Plc and Dangote Sugar Plc. Also, the banking subsector, boosted by activities in shares of Fidelity Bank Plc and Wema Bank Plc, followed with a turnover of 28.69 million shares in 494 deals. Further analysis of the day’s trading showed that in percentage terms, Skyway Aviation Company Plc topped the day’s gainers’ table by 9.88 per cent each to close at N4.45 per share respectively, while FG132026S1 followed with 6.68 per cent to close at N104.50 per share. FG142027S1 added 6.33 per cent to close at N121.28 per share.

On the flip side, AXA Mansard Insurance Plc led the losers by 9.70 per cent to close at N2.70 per share, while Africa Prudential Registrars Plc shed 8.59 per cent to close at N5.85 per share. Regency Alliance Insurance Plc trailed with 6.82 per cent to close at 41 kobo per share.

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