![Nigerian Stock Exchange with market operators](https://economicconfidential.com/wp-content/uploads/2019/08/Nigerian-Stock-Exchange-with-market-operators.jpg)
Equity Market Falls by N35bn as Trading Declines
The market capitalisation of the Nigerian Exchange Limited slid by N35bn as MTN Nigeria (-0.63 per cent), Dangote Sugar (-1.64 per cent), Lafarge Africa Plc (-1.34 per cent), United Bank for Africa(-0.24 per cent) and FBN Holdings (-4 per cent) reduced in share value at the close of trading.
Both the All-Share Index and the Market capitalisation depreciated by 0.09 per cent to close at 71,003.98 points and N 39.047tn respectively compared to 71,066.64 and N39.082tn recorded at the close of the market on Tuesday.
Despite the drop in capitalisation, market breadth, which is the measure of investors’ sentiments, was positive resulting in 36 gainers and 15 losers.
The gainers were led by RT Briscoe, Daar Communications and Unity Bank with a 10 per cent gain respectively to close at N0.33, N0.66 and N1.54. MeCure Industries gained 9.96 per cent to close at N7.62, Multiverse gained 9.82 per cent to close at N4.81 and Secure Electronic Technology Plc which gained 9.52 per cent to close at N0.46 per unit.
Read Also:
On the decliners’ chart were C&I Leasing, which lost 7.58 per cent to close at N5.26, Prestige Assurance shed 7.55 per cent of its share value to close trading at N0.49, International Breweries Plc lost 5.56 per cent to close at N4.25 per unit, UPDC Real Estate Investment Trust lost 4.60 per cent to close at N4.15 and FBN Holdings closed at 19.20 per unit after shedding four per cent of its market value.
Sectoral performance was varied as two sectors gained, two lost while one stayed unchanged. The Banking and Insurance sectors posted marginal gains of 0.19 per cent and 0.75 per cent, while the Consumer Goods and Industrial Goods saw losses of 0.19 per cent and 0.08 per cent, while then the Oil/Gas index remained unchanged.
The market activity showed further improvement as the total deals appreciated by 1.95 per cent to 6,677 trades, while the total traded value for the day jumped by 128.85 per cent to N7.37bn. However, the total volume declined by 12.81 per cent to 428.44 million units.
The session’s top trading volume was led by Veritaskap with 62.08 million units valued at N22.87 million, involving 125 trades, while MTN Nigeria was the most traded in terms of value, amounting to N2.81bn.
Other stocks driving volume and value on the stock exchange include Unity Bank with 38.66 million units of shares worth N59.41m exchanged in 223 deals, GTCO had 33.87 million units of its shares valued at N1.28bn traded in 321 exchanges and UBA’s 19.72 million units of shares worth N407.35m were traded in 331 deals.