Equities Market Sheds Marginally 0.03%

The Nigerian equities market, yesterday shed 0.03 per cent to extend downtrend to the second trading day in a row.In summary, the All-Share Index (ASI) lost 6.88 absolute points, representing a decline of 0.03 per cent to close at 25.266.15 points. Similarly, the market capitalisation shed N2 billion, to close at N8.742 trillion.The dip was equally impacted by value depreciation recorded in some medium and large capitalised stocks, amongst which are; Forte Oil, Seplat, ETI, Dangote Sugar and Nigerian Breweries.Analysts said, We expect the market to close higher in todays session, as yesterdays performance suggests improved appetite.Market breadth closed on a flat note, with 19 gainers and losers apiece. CAP and Nation Salt recorded the highest price gain of 10.23 per cent, to close at N32.64 and 8.62 per share,n respectively, Livestock followed with a gain of 10 per cent to close at 66 kobo, per share.Learn African rose by 8.45 per cent to close at 77. Kobo, while Cadbury appreciated by eight per cent to close at N9.45 per share.On the other hand, forte Oil led the losers chart by 5.86 per cent, to close at N545 per share. Honeywell Well shed 4.76 per cent to close at N1, while Mansard declined by 3.61 per cent to close at N1.60 per share.Neimeth depreciated by 56 kobo per cent to close at N2.72 and African Prudentail declined by 3.32 per cent to close at N2.33 per share.Meanwhile, the total volume traded went up by 84.48 per cent to 180.22 million shares, valued at N1.62 billion, and traded in 2,917 deals. Transactions in the shares of Glaxosmith topped the activity chart with 24.28 million shares valued at N351.42 billion. Flourmill followed with 21.56 million shares worth N388.14 million, while Access Bank traded 17.17 million shares valued at N107.49 million.UBA traded 12.71 million shares worth N66.14 million, while Fidelity Bank sold 9.1 million shared valued N7.24 million.
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