Domestic equities sustain bearish run, shed N256bn

The local equity market on Tuesday closed on bearish run, declining by N256 billion as bears continued dominating

the market.

This resulted in market capitalisation of listed equities declining by 0.16 per cent to N162.495 trillion from N162.751 trillion reported the previous day.

The NGX All Share Index also depreciated by 394.36 basis points to 250273.50 points from 250667.86 points traded on Monday.

The market breadth was negative with 26 advancers against 34 decliners, bringing year to date return lower to 60.83 per cent.

An analysis of the investment showed that Tripple G led gainers table with 9.77 per cent to close at N2.81 per unit, Livestock Feeds followed with a gain of 9.74 per cent to close at N10.74 per unit. NPF Micro Finance Bank added 9.52 per cent to close at N4.60 per unit, Sovereign Trust Insurance gained 8.23 per cent to close at N2.50 per unit, Wapic Insurance added 7.69 per cent to close at N2.38 per share.

On the contrary, CMFC topped losers chart, dropping by 9.88 per cent to close at N3.65 per unit, ABC Transport trailed with a loss of 9.70 per cent to close at N3.65 per unit, CWG fell by 7.23 per cent to close at N19.25 per share, Zichis Agro Allied industries declined by 6.58 per cent to close at N17.02 per unit, Neimeth International pharmaceutical declined by 6.17 per cent to close at N7.60 per share.

Further analysis showed that volume of trades declined by 269.136 million , representing 31.72 per cent as investors traded 579.254 million shares against 848.390 million shares reported the previous day. The value of transactions dropped by 9.38 per cent to settle at N36.810 billion.

Transactions in the shares of Access Holdings Company led gainers table with 192.575 million shares valued at N5.781 billion, UBA followed with account of 32.746 million shares worth N1.472 billion, Zenith Bank traded 30.821 million shares cost N4.185 billion, Fidelity Bank exchanged 29.916 million shares valued at N691.685 million, GTCO Plc traded 19.563 million shares cost N2.595 billion.