New Telegraph

Equities record midweek decline

nngx

Trading activities on the floor of the Nigerian Exchange Limited (NGX), yesterday, returned negative as bears regained grip following sell-off. The local bourse recorded 19 gainers against 17 losers. But, the All-Share Index dipped 4.69 basis points or 0.01 per cent to close at 39,545,67 index points as against 39,550.36 recorded the previous day, while market capitalisation of equities depreciated by N3 billion from N20.606 trillion the previous day to N20.603 trillion as market sentiment returned on the negative territory.

Meanwhile, a turnover of 107 million shares exchanged in 2,414 deals was recorded in the day’s trading. The premium sub-sector was the most active (measured by turnover volume), with 25.06 million shares exchanged by investors in 889 deals. Volume in the subsector was largely driven by activities in shares of Zenith Bank Plc and Access Bank Plc. Also, the banking sub-sector, boosted by activities in shares of GTCO Plc and Fidelity Bank Plc, followed with a turnover of 18.69 million shares in 502 deals.

Further analysis of the day’s trading showed that in percentage terms, PharmDeko Plc topped the day’s gainers’ table by 10 per cent to close at N1.43 per share, while BOC Gases Plc followed with 9.78 per cent to close at N10.10 per share. Honeywell Flour Mills Plc added 9.72 per cent to close at N2.71 per share. On the flip side, Scoa Plc led the losers by 9.66 per cent to close at N1.59 per share, while Prestige Assurance Plc shed 8.33 per cent to close at 44 kobo per share. Regency Alliance Insurance Plc trailed with 6.98 per cent to close at 40 kobo per share.

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