NGX: Market Indices Closed red, as market capitalization shed N2.941 Billion
It was a red day on the floor of the Nigerian Stock Exchange on Thursday as all the market indicators closed in the negative with the market equity value dipped by Two Point nine-four Billion Naira.
The Market could not sustain Wednesday’s Seven-point Nine-Seven Billion Naira Gain.
The Market capitalization fell to Nineteen Point Seven –Two Trillion Naira from Nineteen-Point Seven –Three Trillion it closed on Wednesday. This was a Two Point Nine Billion Naira decline.
This Forced the All Share Index to slope downward by Zero Point Zero-One Percent and closed at Thirty-Seven Thousand Eight Hundred and Sixty-Six Point Nine points From Thirty –Seven Thousand, Eight Hundred and Seventy –Two Point Five-Five points.
One Hundred and Fifty-Nine Point Nine-Nine Million shares exchanged hands on the floor which was valued at Nine Hundred and Twenty-Seven Point Eight –Five Million Naira in Three Thousand Thirty-Eight deals.
However, the market sentiments measured by breadth was positive with Eighteen gainers against Sixteen losers.
Sovereign Insurance Plc. gained Three Kobo on its share price to top other gainers. Its share price rose to Thirty-Three Kobo From Thirty Kobo it traded on Wednesday.
Other top gainers were FTN Cocoa, Computer Ware House Group, AIICO Insurance and Red Star Express Plc.
On the losers side, Ikeja Hotel led the chart with a Thirteen Kobo fall on its share price, closing at One Naira Twenty- Seven Kobo From One Naira Forty Kobo it transacted on Wednesday.
UPDC Real Estate Investment Trust, WAPIC Insurance, UPL and Unity Bank were other top losers.
The investor’s preference was Zenith Bank equity which recorded One Hundred and Ninety deals. It was followed by Guaranty Trust Bank, having One Hundred and Sixty –Five transactions.
MTN Nigeria recorded the highest turnover on Thursday trading with One Hundred And Forty-Five Four-Eight Million value of shares.
