Equities Market Records N786.7m Cap Decline

The equities market of the Nigerian Stock Exchange (NSE) recorded a moderate loss of 1bp to close at 24,276.56 due to sell-offs in Intbrew (-8.9percent), FBNH (-0.9percent) and Access (-0.8percent).

This resulted in a total loss of N786.7million for investors as market capitalisation settled lower at N12.7trillion with year to date loss closing at -9.6 percent.

Activity level weakened as volume and value traded dived 17.4 percent and 47.4 percent to 192.1m units and N2.5bn respectively.

Fidelity (38.1m units), Guaranty (23.6m units) and Zenith (23.1m units) were the top traded by volume while Guaranty (N534.5m), Zenith (N384.5m) and MTNN (N374.5m) led by value.

On the part of corporate disclosure, Conoil Plc declares a final dividend of N2.0 per 50 kobo ordinary share subject to appropriate withholding tax