Business

PZ Cussons leads losers to extend market decline

Transactions on the equities market yesterday extended market downturn as PZ Cussons and Seplat Petroleum led 20 other stocks to close the market on the negative territory.
The local bourse recorded 17 gainers against 22 losers.
Consequently, the All-Share Index dipped 95.01 basis points or 0.38 per cent to close at 24,655.05 index points as against 24.750.06 recorded the previous day while market capitalisation of equities depreciated by N50 billion from N12.911 trillion the previous day to N12.861 trillion as market sentiment remained on the negative territory.
Meanwhile, a turnover of 189.25 million shares exchanged in 3,364 deals was recorded in the day’s trading.
The premium sub-sector was the most active (measured by turnover volume); with 98.39 million shares exchanged by investors in 1,126 deals.
Volume in the sub-sector was largely driven by activities in shares of FBNH Plc and Zenith Bank Plc.
Also, the banking sub-sector boosted by activities in shares of Fidelity Bank Plc and GTBank Plc followed with a turnover of 15.59 million shares in 464 deals.
Further analysis of the day’s trading showed that in percentage terms, Chams Nigeria Plc topped the day’s gainers’ table with 9.32 per cent to close at 23 kobo per share while Champion Breweries Plc followed with 7.95 per cent to close at 95 kobo per share. Unity Bank Plc added 7.41 per cent to close at 58 kobo per share.

 

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