Selloffs in stocks such as Universal Insurance, ABC Transport, Livingtrust Mortgage Bank, Chellaram, Royal Exchange and 34 other declining stocks drove the market into negative territory.

The market capitalisation of listed equities dropped by N216 billion, or 0.23 per cent, from N92.218 trillion to close at N92.002 trillion.

Similarly, the All-Share Index, ASI, declined by 0.23 per cent, shedding 340.50 points to close at 144,646.01 compared to 144,986.51 on Tuesday.

As a result, the year-to-date (YTD) return dropped to 40.53 per cent.

Also, the market breadth closed negative with 39 losers and 17 gainers.

Universal Insurance led the losers’ chart by 10 per cent, closing at N1.17, ABC Transport trailed by 9.95 per cent, settling at N3.44 while Livingtrust Mortgage Bank lost at 9.92 per cent, closing at N3.36 per share.

Chellaram dipped by 9.85 per cent, finishing at N14.65 and Royal Exchange fell by 9.76 per cent, ending the session at N1.85 per share.

Conversely, FG162049S2 led the gainers’ chart by 10.53 per cent, settling at N105, NCR Nigeria followed by 9.85 per cent, finishing at N34 and Caverton Offshore grew by 9.71 per cent, closing at N5.65 per share.

UAC of Nigeria gained by 8.33 per cent, ending the session at N68.30 while Mutual Benefits Assurance rose by 7.69 per cent, closing at N3.64 per share.

Market activity revealed decline in the deals and value with an increase in the volume as 892.5 million shares worth N23.5 billion were exchanged across 20,225 transactions.

This is in contrast to 381.23 million shares valued at N16.7 billion that was traded in 21,827 deals earlier.

Access Corporation closed with the highest volume and value, with 488.36 million shares traded, valued at N10.57 billion.

Source: NAN

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The post Market dips further, investors lose N216bn appeared first on Frontpageng.

Market capitalisation rose by N259 billion or 0.37 per cent to close at N70.894 trillion, compared with N70.635 trillion on Monday.

Similarly, the All-Share Index (ASI) also increased by 411.52 points or 0.37 per cent, to settle at 112,427.48.

The uptrend was driven by strong buying interest in medium and large capitalised stocks such as Honeywell Flour Mill, SCOA Nigeria, SFS Real Estate Investment Trust, Industrial & Medical Gases and 32 other stocks.

Meanwhile, the market breadth also closed positive with 36 gainers and 32 losers.

On the gainers’ chart, Honeywell Flour Mill increased by 10 per cent, closing at N22.00 while SCOA Nigeria also gained 10 per cent, finishing at N5.39 per share.

SFS Real Estate Investment Trust climbed by 10 per cent, settling at N226.60 and Industrial & Medical Gases rose by 9.96 per cent, ending the session at N37.00 per share.

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Also, International Energy Insurance soared by 9.82 per cent, closing at N1.79 per share.

On the flip side, Conoil dropped by 10 per cent, settling at N268.30 while Learn Africa fell by 9.98 per cent, ending the session at N3.88 per share.

Transcorp Hotels declined by 9.97 per cent, closing at N132.80 and Julius Berger shed by 9.94 per cent, finishing at N120.50 per share.

Similarly, Chellaram dipped by 9.92 per cent, settling at N9.53 per share.

A total of 622.64 million shares worth N16.12 billion were traded across 17,044 transactions.

Transactions in the shares of Fidelity Bank topped the activity chart with 108.17 million shares, valued at N2.05 billion.

Legend Internet Plc followed with 60.95 million shares worth N344.36 million while United Bank for Africa sold 55.74 million shares valued at N1.93 billion.

Guaranty Trust Holding Company transacted 41.23 million shares worth N2.80 billion and Access Corporation traded 34.51 million shares at N754.43 million.

Source: NAN

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The NGX market capitalisation rose by N315 billion representing 0.46 per cent, closing at N68.357 trillion, up from N68.042 trillion on Monday.

Similarly, the All-Share Index, ASI, increased by 501.14 points or 0.46per cent, closing at 108,762.61, compared to 108,261.47 in the previous session.

The uptrend was as a result of bargain-hunting in some select stocks.

Meanwhile, the market breadth closed positive with 41 gainers and 24 losers.

On the advancers’ chart, Chellaram rose by 10 per cent, to close at N11.44 per share while Oando Plc also soared by 10 per cent, settling at N49.50 per share.

Transcorp gained by 9.99 per cent, ending the session at N46.25 and Beta Glass grew by 9.96 per cent, closing at N194.30 per share.

Also, Caverton Offshore Support Group increased by 9.85 per cent, finishing at N3.68 per share.

On the decliners’ chart, Haldane McCall Plc fell by 9.85 per cent, settling at N4.21 while Academy dropped by 7.33 per cent, closing at N4.30 per share.

UPDC Real Estate Investment decreased by 6.25 per cent, ending the session at N3.00 and ABC Transport shed by 6.13 per cent, to close at N2.91 per share.

Similarly, NPF Micro finance Bank lost by 5.14 per cent, finishing at N2.03 per share.

A total of 498.48 million shares worth N10.781 billion were exchanged across 14,916 transactions.

This is compared to 414.57 million shares worth N10.72 billion that was exchanged across 16,664 transactions earlier.

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Transactions in the shares of Tantalizer topped the activity chart with 57.80 million shares valued at N131.32 million.

Access Corporation followed with 36.79 million shares worth N784.43 million while Guaranty Trust Holding Company sold 31.84 million shares valued at N2.19 billion.

Fidelity Bank traded 23.39 million shares worth N470.49 million and Nigerian Breweries transacted 26.032 million shares valued at N1.08 billion.

Mr Aruna Kebira, Managing Director of Globalview Capital Ltd. said the upward trend was a result of some investors taking their profits in line with their income objectives as short-term investors remained at alert to make profits.

He said the market witnessed a culmination of various cash out leading to profit spree.

Source: NAN

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Specifically, the Nigerian Exchange Ltd., NGX, market capitalisation declined by N313billion, or 0.46 per cent, to N68.339 trillion from N68.652 trillion recorded on Thursday.

The All-Share Index also dropped by 0.46 per cent or 498.56 points to close at 108,733.40 down from 109,231.96 posted earlier.

The decline, after five days of bullish trend, was largely attributed to sell-offs in heavyweight stocks.

However, the market breadth closed positive with 34 gainers against 33 losers.

On the advancers’ chart, ABC Transport gained by 10 per cent to close at N2.86 while Sterling Nigeria also rose by 10 per cent, settling at N6.05 per share.

Chellaram soared by 9.94 per cent, finishing at N10.40 and Academy grew by 9.92 per cent, ending the session at N4.32 per share.

Similarly, Red Star Express increased by 9.90 per cent, closing at N5.55 per share.

On the flip side, Transcorp Power Plc fell by 9.98 per cent to close at N328.50 while Haldane McCall declined by 9.57 per cent, finishing at N4.25 per share.

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Meyer Plc dropped by 9.09 per cent, ending the session at N8 and Regalins lost by 6.78 per cent, settling at 55k per share.

Sunu Assurance shed by 6.73 per cent, closing at N4.99 per share.

A total of 459.21 million shares worth N11.164 billion were exchanged across 15,723 transactions.

This is compared to 554,069 million shares worth N14.35 billion that was exchanged across 16,704 deal.

Transactions in the shares of Tantalizer topped the activity chart with 101.38 million shares worth N237.33 million.

Guaranty Trust Holding Company followed with 51.28 million shares valued at N3.54 billion while Access Corporation sold 45.17 million shares worth N975.27 million.

Zenith Bank transacted 21.79 million shares valued at N1.06 billion and Sterling Nigeria traded 15.50 million shares worth N91.76 million

Source: NAN

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