NGX: Equities decline for third straight day

Trading activities on the Nigerian Exchange Limited (NGX) continued on a downward trend for the third straight day as transactions in the equities market ended again on a negative note on Wednesday.

The All-Share Index fell marginally by 21.16 basis points or 0.05% from 38,873.85 basis points to 38,852.69 basis points.

Similarly, the Market Capitalization declined by 0.05% or N11 billion to close the day at N20,243 trillion from N20,254 trillion.

At the close of trading activities, 13 stocks appreciated, 17 declined while all others closed with their prices unchanged.

UNIVERSAL INSURANCE PLC was the most traded stock by volume with 19.040 million units of shares sold, while GUARANTY TRUST HOLDING COMPANY PLC was the most traded stock by value with shares worth N271.263 million sold.

TRANSCORP HOTELS PLC led the day’s gainers, rising by 0.45k or 10% from 4.50k to close at N4.95k per share.

It was followed by PHARMA-DEKO PLC. which opened at N1.62k per share and closed at N1.78k per share to gain 0.16k or 9.88%.

CONOIL PLC was the third top gainer, appreciating from N22.35k per share to N24.55k per share, representing a N2.20k or 9.84% appreciation.

On the other hand, VERITAS KAPITAL ASSURANCE PLC topped the losers with 0.02k or 8.70% dip from 0.23k per share to 0.21k per share.

Next is UNITED CAPITAL PLC, which fell by 0.45k or 5.00% from N9.00 per share to N8.55k per share, while CHAMS PLC declined by 0.01k or 4.55% from 0.22k per share to 0.21k per share.

On sectoral performance, the Insurance index gained 2.22 basis points or 1.2%, while the Oil and Gas index upped 1.79 basis points or 0.5%. The Industrial Goods index grew by 0.2 basis points or 0.01%, while the Banking index dropped by 3.02 basis points or 0.83%; the Consumer Goods Index fell by 0.11 basis points or 0.02%.

The downward trend in the market also reflected in the total volume of trades as it fell to 155.77 million units of shares valued at N1.51 billion in 3,256 deals from yesterday’s 184.44 million units, valued at N2.34 billion, and exchanged in 3,809 deals.