Equity market down N70bn on low sentiment

The Nigerian bourse on Thursday closed lower to reverse the previous day’s gain as bears regained their grip following the sell-off that has persisted on the equities market.

Market breadth closed positive as Transcorp lead 17 other losers to close the trading session on the negative.

Consequently, the All-Share Index dropped marginally by 2.96 basis points or 0.01 per cent to close at 30,738.92 basis points as against 30,741.88 recorded the previous day.

The market capitalisation of equities depreciated by N6bn or 0.01 per cent to close flat at N16.06tn from N16.07tn as market sentiment returned to the red zone.

Meanwhile, a turnover of 430.12million shares exchanged in 4,319 deals was recorded in the day’s trading.

The premium sub-sector was the most active during the day (measured by turnover volume); with 178.37 million shares exchanged by investors in 1,299 deals.

The volume in the sub-sector was largely driven by activities in the shares of FBNH Plc and Access Bank Plc.

The banking sub-sector of the financial services sector boosted by activities in the shares of Union Bank Plc and GT Bank Plc followed with a turnover of 59.86 million shares in 820 deals.

The number of gainers at the close of the trading session was 18 while decliners also closed at 17.

Transcorp Plc led the gainers’ table with a gain of 9.86 per cent each to close at 78 kobo per share while Learn Africa Plc followed with a gain of 9.52 per cent to close at N1.15 per share.

Africa Prudential Plc added 8.89 per cent to close at N6.20 per share.

On the other hand, Linkage Assurance Plc led the price losers’ table, dropping 8.89 per cent to close at 41 kobo per share.

ABC Transport Nigeria Plc followed with 8.82 per cent to close at 31 kobo per share while CHI Plc trailed with a loss of 8.11 per cent to close at 34 kobo per share.

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