Equity market sustains bearish run, sheds N517bn

Equity market sustains bearish run, sheds N517bn

Bearish sentiment persisted in the nation’s equity market, resulting in price decline amid profit taking activities, as the investors wealth depletes by N517 billion.

Market capitalisation of listed equities sheds 1.86 per cent to N27.201 trillion from N27.718 trillion opened on Monday.

The NGX All Share Index also depreciated by 958.16 basis points to 50442.37 points from 51400.53 traded the previous day.

Investors traded 156.167 million shares valued at N2.936 billion in 4618 deals against 98.852 million shares cost N2.514 billion in 4314 deals.

An analysis of the Investment showed that Livestock Feeds led gainers table during the day, gaining 1.63 per cent to N1.25, FBNHoldings followed by 1.36 per cent to N11.15, Sterling Bank gained 1.32 per cent to N1.53, SUNU Assurance and Vanleer stabilises at N0.35 and N4.45 respectively.

On the contrary, Trans Express toped losers chart during the day, failing by 10 per cent to N0.63 per cent, International Breweries trailed with a loss of 9.91 per cent to N5.00, MTN Nigeria down by 9.62 per cent to N192.50, PZ Cusson down by 9.62 per cent to N9.40 while Berger paint fell by 9.49 per cent to N6.20.

Leave a Reply

Your email address will not be published. Required fields are marked *