By OLUSHOLA BELLO
The Nigerian equities market, yesterday shed marginal 0.08 per cent to kick-off the new week in the red zone.
In summary, lead indicator, NSE-ASI shed 21.87 absolute points, representing a decline of 0.08 per cent to close at 27,574.95 points. Similarly, the market capitalization shed N8 billion to close at N9.471 trillion.
The downturn was marginally induced by price depreciation recorded in some large capitalised stocks amongst which are Mobil, Cadbury, PZ Industries, Union Bank and ETI.
A stock market analyst who spoke on the development noted that “The equities market continued on a roller coaster ride as investor sentiment continued to wane. Triggers for a sustainable rally remained scarce as earnings scorecards trickled in with broadly mixed performances.”
Market breadth closed negative with 11 gainers and 18 losers. Caverton led the gainers table by 4.7 per cent to close at 90 kobo per share. Vitafoam followed with a gain of 2.3 per cent each to close at N2.64 each per share, while wapic Insurnace gained two per cent to close at 51 kobo per share.
FCMB gained by 1.8 per cent to close at N1.13, while Zenith Bank appreciated by 1.7 per cent to close at N15 per share.
On the other hand, Cadbury led the laggards’ table by 9.5 per cent to close at N11.88 per share. Wema Bank trailed with a loss of 6.2 per cent to close at 61 kobo, while Union Bank declined by 5.3 per cent to close at N4.50 per share.
Also, Aiico Insurance declined by 4.9 per cent to close at 58 kobo. On the other hand, NEM Insurance shed by 4.8 per cent to close at 80 kobo per share.
Meanwhile, the total volume traded went up by 42.6 per cent to 101.18 million shares, valued at N1.06 billion, and exchanged in 2,256 deals. Transactions in the shares of Zenith Bank topped the activity chart with 20.79 million shares valued at N311.93 million. Guaranty Trust Bank followed with 9.52 million shares worth N230.55 million, while Access Bank traded 7.85 million shares valued at N44.35 million.
UBA traded 7.69 million shares worth N32.53 and FCMB transacted 7.39 million shares valued at N8.31 million