Equities Market sheds 0.06%

Salamatu Ejembi, Lagos

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Equities trading on the floor of the Nigerian Exchange Limited, NGX ended Wednesday’s transactions on a negative note.

Consequently, the benchmark Index slipped 0.06% to settle at 50,594.97 points while market capitalization lost ₦16.76bn to close at ₦27.28trn.

Late profit-taking activities witnessed in BUA CEMENT PLC, NIGERIAN BREWERIES PLC and MTN NIGERIA COMMUNICATIONS PLC undermined the market’s performance, outweighing the gains in GUARANTY TRUST HOLDING COMPANY PLC, LAFARGE AFRICA PLC, and DANGOTE SUGAR REFINERY PLC.

Analysis of today’s market activities showed that the total volume traded declined to 121.16m units of shares valued at ₦4.17bn were exchanged in 4,369 deals.

MTN NIGERIA COMMUNICATIONS PLC was the most traded stock by volume and value at 10.41m units traded in deals worth ₦2.24bn.

As measured by market breadth, market sentiment was positive with 22 stocks gaining relative to 15 losers.

Leading the gainers table is LASACO ASSURANCE PLC with a previous selling price of 0.90k per share but closed on Wednesday at 0.99k per share, gaining 0.09k or 10.00%.

Next is UPDC PLC which increased by 0.10k or 9.71% to close at ₦1.13k per share from ₦1.03.

Followed by HONEYWELL FLOUR MILL PLC which stood at ₦2.49k per share from ₦2.27k per share, gaining 0.22k or 9.69.

On the flip side is LEARN AFRICA PLC which led the losers with a 0.26k or 10.00% fall from ₦2.60k per share to close at ₦2.34k per share.

UNIVERSITY PRESS PLC followed with a fall from ₦2.35k per share to ₦2.12k per share by 0.23k or 9.79%, While CORNERSTONE INSURANCE PLC fell from 0.75k per share to 0.68k per share by 0.07k or 9.33%.

 

Analysing by sectors, the Industrial Goods (-0.5%), Banking (-0.3%), and Insurance (-0.1%) indices closed in the red, while Consumer Goods (+0.4%), and Oil & Gas (+0.3%) indices advanced.

 

 

 

 

 

Hauwa Abu

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