Home Business Equities Market Sheds 0.20% as Profit-Taking Persist

Equities Market Sheds 0.20% as Profit-Taking Persist

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The equities market of The Nigerian Stock Exchange (NSE) continued its bearish trend on Wednesday over investors profit-taking in mid-small capitalized companies.

The NSE Index depreciated by 0.20 per cent to close at 29,609.00 basis points from 29,668.68 basis points while the market capitalization moved from N13.074 trillion to N13.048 trillion, representing a decline of N26billion.

Consequently, the bears maintained control of the market spread, recording 19 losers as opposed 17 gainers.

The share price of Chams Access Plc leads in share price depreciation on Wednesday, shedding 10 per cent to close at N0.27 from N0.30 while Beta Glass Plc dropped by 9.97 per cent to N66.35 from N73.70.

Other losers include CCNN that depreciated by 9.77 per cent to N12.00 as  Prestige Assurance declined  by 7.41 per cent to N0.50 from N0.54 the market opened for trading.
On the gainer side, Courtville Business solution plc added 9.52 per cent to close at N0.23 from N0.21 while CHI Plc’s share price rose by 9.09 per cent to N0.24 from N0.22 per share.

Volume of trades inched up by 56per cent to stand at 394 million shares as opposed 253 million shares traded the previous day. Whereas value stood at N3.27 billion naira as opposed N4.12 billion, representing a 21per cent decline from the previous trading session.

Transactions in the shares of Wema Bank, Guaranty Trust Bank, Unilever Plc, FBN Holdings Plc, and Flour Mills of Nigeria plc topped the activity chart as the most traded equities as measured by volume.

The Sector Indices recorded mixed performance, with the NSE-30, Banking, Insurance, and Oil & Gas recording positive gains on Wednesday’s market trading.

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