Equity Market Records Marginal Loss

Equity investors on Wednesday recorded marginal loss as market almost closed on flat note, depreciating by 0.004 per cent.

Consequently, the All-Share Index dipped 95.01 basis points or 0.004 per cent to close at 24,173.53 index points as against 24,174.45 recorded the previous day.

Market capitalisation of equities depreciated by N498m from N12.610tn the previous day to N12.611tn as market sentiment remained on the negative territory.

However, the market breath closed flat with nine gainers and nine losers.

Meanwhile, a turnover of 402.64 million shares exchanged in 3,252 deals was recorded in the day’s trading.

The banking sub-sector was the most active (measured by turnover volume), with 50.02million shares exchanged by investors in 527 deals.

The volume in the subsector was largely driven by activities in the shares of Sterling Bank Plc and Union Bank Plc.

Also, the premium subsector boosted by the activities in the shares of FBNH Plc and Zenith Bank Plc followed with a turnover of 49.56 million shares in 1,128 deals.

Further analysis of the day’s trading showed that in percentage terms, Eterna Oil Plc topped the day’s gainers’ table with 8.89 per cent to close at N1.96 per share while May and Baker Plc followed with 7.91 per cent to close at N3.00 per share.

NPF MFB Plc added 7.58 per cent to close at N1.42 per share.

On the flip side, GSK Plc led the losers with a drop of 9.52 per cent to close at N4.75 per share while Chi Plc shed 9.16 per cent to close at 45 kobo per share.