Equities slid 0.42% lower, as 26 losers emerge

The equities market continued the trading week on a negative note, with All-Share Index depreciating by 0.42 per cent to 36,165.93 points, following sellofs across all sector indices save for the banking index

The day’s loss which further trimmed the Year to Date returns to 35 per cent was muted by gains posted in Stanbic IBTC following impressive half year financials (113% growth in H1’PAT), as well as the declaration of bumper harvest for investors in form of a 60 kobo interim dividend with the option of a scrip dividend. The banking index thus emerged the day’s sole gainer with a growth of 0.27 per cent.

A breakdown of the price movement chart showed 26 losers were paired against 14 gainers. Mobil and Jaiz Bank topped the losers table with a decline of 5 pe rcent each to close at 173.79 and 76 kobo, respectively. Okomuoil fell by 4.99 per cent to settle at N65.64 per share, Julius Berger dropped 4.97 per cent to close at N34.20, while First Aluminium depreciated 4.76 per cent to close at 60 kobo per share.

On the other hand, Champion Breweries led the day’s gainers with a growth of 6.84 per cent to close at N2.50. It was trailed by Neimeth, which grew by 4.82 per cent to close at 87 kobo per share, and Cutix added 4.74 per cent to close at N2.21 per share. May & Baker also gained 4.73 per cent to close at N2.88 per share while Livestock feeds advanced by 4.44 per cent to close the day at 94 kobo per share.

Fidelity bank topped activity chart with the sale of 23.3million shares worth N31.4m, Zenith Bank came next with the sale of 18.2mn shares valued at N416.4m and FCMB exchanged 17.3m shares valued at N19.1m, Transcorp sold 8.8million units of shares at N11.4m while Access Bank exchanged 8.8m units valued at N88.1m shares

At the end of the day’s trading investors in 3,716 deals had traded total 144.5m shares worth N1.5bn compared to 348mn units, valued at N2.98 bn exchanged in 3,276 deals on Monday.

Afolabi Adesola