Equity market sheds N10bn as NGXASI drops by 0.04%

Adebayo Obajemu

The equity market Wednesday ended on a bearish note as the All Share Index declined by 0.04% to settle at 49,691.17 points from the previous close of 49,709.46 points.

The Market Capitalisation dropped by 0.04% to close at N26.802 trillion from the previous close of N26.812 trillion, thereby shedding N10 billion.

An aggregate of 128.8 million units of shares were traded in 3,492 deals, valued at N4 billion.

The Market Breadth closed negative as 10 equities appreciated in their share prices against 16 equities that declined in their share prices.

Percentage Gainers

Prestige Assurance led other gainers with 9.09% growth to close at N0.48 from the previous close of N0.44.

Sovereign Trust Insurance and LASACO among other gainers also grew their share prices by 8.00% and 6.48% respectively.

Percentage Losers

COURTVILLE led other price decliners as it shed 9.80% of its share price to close at N0.46 from the previous close of N0.51.

SCOA Nigeria Plc, and Sky Aviation among other price decliners also shed their share prices by 9.79% and 9.73% respectively.

Volume Drivers

FBNH traded about 28 million units of its shares in 95 deals, valued at about N303 million.

Zenith Bank traded about 16.7 million units of its shares in just 325 deals, valued at N361.7 million.

UBA traded about 11 million units of its shares in 148 deals, valued at N78 million.