Nigeria’s Equity Market Rescinds, Sheds N13bn

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Trading activities on the floor of Nigerian Exchange on Wednesday closed on a negative note, declining by N13 billion, as investors embark on profit taking activities.

Market capitalisation of listed equities declined by 0.03 per cent to N37.400 trillion from N37.413 trillion reported the previous day.

The NGX All Share Index also depreciated by 23.50 basis points to 68335.72 points from 68359.22 points traded the previous day.

A review of the investment showed that Sunu Assurance led gainers table, increasing by 10 percent to N0.88 per share, Berger Paint followed with a gain of 9.91 per cent to close at N12.75 per unit, Oando Plc added 9.77 per cent to close at N14.60 per share, Chams Plc up by 9.77 per cent to close at N1.40 per unit while MRS increased by 9.47 per cent to close at N104.00 per share.

On the contrary, TranscoHotel topped losers’ chart, dropping by 10 per cent to close at N45.90 per share, IkejaHotel trailed with 9.93 per cent to close at N2.72 per share, Chi Plc fell by 7.41 per cent to close at N1.00, NSLTech dipped by 7.41 per cent to close at N0.25 per unit, while Glaxosmith sheds 7.38 per cent to close at N11.30 per unit.

Volume of trades declined by 110.105 million, representing 16.27 per cent as investors traded 566.631 million shares valued at N5.386 billion in 8201 deals against 515.280 million shares worth N5.893 billion in 7659 deals.

Transactions in the shares of Oando Plc led market activities with 109.996 million shares valued at N1.599 billion, Courtvellle Business Solutions followed with account of 66.002 million shares cost N32.569 million, Chams Plc traded 56.388 million shares valued at 56.388 million shares cost N81.804 million Japaul Gold traded 36.630 million shares valued at N35.248 million Access Corp traded 32.530 million shares valued at N563.305 million.

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