Equities market decline for third straight day records loss of N139.3bn
Nigerian Equities market closed in red yesterday for the third consecutive session of the week and the year 2017.
The bearish run now costs N139.3 billion lost by investors in three days.
Tracking the performance of the market, equities descended further as the Nigerian Stock Exchange’ All-Share Index (NSEASI) and Market Capitalization dropped 1.07 percent
The ASI shed 282.95 on Thursday to settle at 26,212.09, while the market capitalization dropped N97.4 billion to settle at N9.019 trillion.
Overall investor sentiment, however, improved as 17 gainers were paired against 16 losers,
UAC Prop led the day’s advancing stocks by 7.29 percent to close at N3.09. Oando dropped 5.58 percent to close at N4.54, Access Bank grew 4.96 percent to close at 6.14, Diamond Bank appreciated 4.65 percent to close at 90 kobo and Eterna Oil gained 4.58 percent to close at N3.20.
Nigerian Aviation Handling Company led the day’s 16 declining stocks with a decline of 9.49 percent to close at N2.86. Guinness followed with a loss of 5.00 percent to close at N78.90, Dangote Flour fell 4.94 percent to close at N4.04, Custodian & Allied Insurance depreciated 4.88 percent to close at N3.70 and Caverton Offshore dropped 4.44 percent to close at 86 kobo.
The day’s transactions were executed in 2,249 deals which represent a growth of 4.60 percent against previous session’s 2,150 deals. Investors also moved 137.7 million shares in contrast to previous session’s 602 million.
The value of equities traded for the day dropped by 40 percent from previous session’s N1.204 billion to N898.7 million.
Top traded stock of the day was Fidelity Bank with 25.1 million units of shares valued at N21 million. Diamond Bank followed with about 17 million shares valued at N15.3 million, while UCAP traded 11.0 million shares worth N31.8 million.
Transcorp traded 10.9 million shares for N9.7 million and UBA emerged the fifth most traded stock with 9.7 million shares worth N44.8 million.
