New Telegraph

Prestige Assurance, Pharmadeko lead in N27bn loss

Equities market’s key performance indices, the NGX All Share Index (ASI), yesterday fell by 0.08 per cent to halt days of gaining streak as profit takings hits the market following investors crave to increase capital gains. Driven by decline in value of blue chip companies, the market closed the trading day on a negative note.

Consequently, the All- Share Index dropped by 31.44 basis points or 0.08 per cent to close at 38,469.87 basis points as against 38,501.31 recorded the previous day while the market capitalisation of equities depreciated by N27 billion to close at N20.043 trillion from N20.070 trillion as market sentiment returned to the red zone. Meanwhile, a turnover of 190.45 million shares exchanged in 2,843 deals was recorded in the day’s trading. The banking sub-sector was the most active during the day (measured by turnover volume); with 54.40 million shares exchanged by investors in 730 deals.

Volume in the subsector was largely driven by activities in shares of Fidelity Bank Plc and GT Holdings Company Plc. The premium sub-sector, boosted by activities in shares of Zenith Bank Plc and FBNH Plc, followed with a turnover of 47.63 million shares in 1,053 deals. The number of gainers at the close of trading session was 12, while decliners closed at 16. NEM Insurance Plc led the gainers’ table with a gain of 10 per cent to close at N2.20 per share while Courtiville Business Solutions Plc followed with a gain of 9.52 per cent to close at 23 kobo per share. Nacho Plc added 5.71 per cent to close at N2.59 per share.

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