Nigeria equities market yesterday resumed trading for the month of August and the new week on a decline as the capitalisation lost N227 billion.
The All Share Index (ASI) decreased by 419.93 absolute points, representing a decline of 0.83 per cent to close at 49,950.32 points. Similarly, the market capitalisation lost N227 billion, and closed at N26.936 trillion.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; BUA Cement, UAC of Nigeria (UACN), International Breweries, May & Baker Nigeria and Neimeth International Pharmaceuticals.
GTI Securities Limited said: “equity market closed trading activities for yesterday bearish due to sell-off in blue-chip stocks such as BUA Cement and 13 others. However, we expect slight recovery this week as investors continue to react to companies second quarter (Q2) performance release.”
However, market breadth closed positive, with 21 gainers versus 14 losers. Courteville Business Solutions and Caverton Offshore Support Group recorded the highest price gain of 10 per cent each to close at 44 kobo and N1.10 respectively, while Champion Breweries followed with a gain of 9.59 per cent to close at N4.00, per share.
Unity Bank went up by 9.30 per cent to close at 47 kobo, while Japaul Gold & Ventures and Livestock Feeds appreciated by 8.70 per cent each to close at 25 kobo and N1.25 respectively, per share.
On the other hand, BUA Cement led the losers’ chart by 9.96 per cent to close at N62.40, per share. McNichols Plc followed with a decline of 9.89 per cent to close at 82 kobo, while Neimeth International Pharmaceuticals lost 9.68 per cent to close at N1.40, per share.
International Breweries depreciated by 6.54 per cent to close at N5.00 while May & Baker Nigeria declined by 6.42 per cent to close at N3.35, per share.
Total volume traded depreciated by 30.90 per cent to 176.054 million shares, worth N2.271 billion, and traded in 4,965 deals. Transactions in the shares of Guaranty Trust Holding Company topped the activity chart with 21.371 million shares valued at N426.795 million.
Zenith Bank followed with 20.446 million shares worth N429.283 million, while Access Holdings traded 16.785 million shares valued at N149.668 million.
FBN Holdings traded 14.313 million shares valued at N153.133 million, while Union Bank of Nigeria (UBN) sold 14.263 million shares worth N100.531 million.