Domestic equities shed N1.334trn amid sustained profit-taking activities

Transaction on the floor of Nigerian Exchange NGX on Thursday closed southward, depreciating by N1.334 trillion as losses in heavyweight stocks weighed down on trading activities.

Market capitalization of listed equities declined by 0.82 per cent to N161.051 trillion from N162.385 trillion it closed on Wednesday.

The NGX All Share Index also depreciated by 2,054.25 basis points to 248042.50 points from 250096.75 points traded the previous day.

The negative performance during the day was driven by losses in medium and large stocks such as MTN Nigeria, Aradel Plc, UBA, Eterna Plc, Cutix , CMFC and among others.

Market breath was negative with 26 advancers against 30 decliners, bringing year to date return lower  to 59.40 per cent.

An analysis of the trading during the day showed that

Etranzact led gainers table with 10 per cent to close at.N12.10 per unit, Livestock Feeds followed with a gain of 9.09 per cent to close at N12.00 per share, Guinea Insurance added 8.97 per cent the close at N0.85 per unit , Learn Africa up by 8.93 per cent  to close at N9.15 per share, Multitrex increased 7.69 per cent to close at N0.42 per unit.

On the contrary,

Aradel Plc and Eterna Plc topped losers chart , dropping by 10 per cent each to close at N1377.00 and N41.40 per unit respectively. Cutix Plc trailed with a loss of 9.02 per cent to close at N2.22 per share, CMFC declined by 8.98 per cent to close at N3.65 per unit, NPF Micro Finance Bank dipped by 8.70 per cent to close at N4.20 per share.

Volume of trades up by 45.23 million , representing 10.12 per cent as investors traded 492.23 million shares against 447.00 million reported the previous day. Value of transactions also increased by 65.66 per cent to settle at N38.02 billion in 38711 deals

Transactions in the shares of Zenith Bank led market activities with 47.799 million valued at N6.499 billion, Wema Bank followed with account of 43.637 million shares cost N1.352 billion, Access Holdings company traded 42.942 million shares worth N1.270 billion, FCMB group exchanged 32.673 million shares valued at N357.456 million while Multitrex traded 27.195 million shares cost N11.422 million.