Losses in Nigerian Breweries, 33 others down equities market by N273bn

Losses in Nigerian Breweries Plc and 33 others pulled the Nigerian equities market lower by N273 billion, extending the negative reaction to two trading consecutive sessions.

The  Nigerian Exchange Limited All-Share Index (NGX ASI) declined by 435.01 basis points or 0.40 per cent, to close  at 109,183.02 basis  points. Similarly, the overall market capitalisation value lost N273 billion to close at N68.622 trillion.

As measured by market breadth, market sentiment was negative, as 22 stocks gained relative to 34 losers. Red Star Express recorded the highest price gain of 9.91 per cent to close at N6.10, per share.

RT Briscoe Nigeria followed with a gain of 9.57 per cent to close at N2.29, while Sovereign Trust Insurance up by 9.38 per cent to close at N1.05, per share.

Custodian Investment appreciated by 9.00 per cent to close at N21.80, while eTranzact International rose by 7.94 per cent to close at N6.80, per share.

On the other hand, Chellaram and May & Baker Nigeria led the losers’ chart by 9.96 per cent each to close at N11.75 each, while Linkage Assurance followed with a decline of 9.88 per cent to close at N11.75, per share.

Omatek Ventures lost 8.82 per cent to close at 62 kobo, while McNichols depreciated by 8.70 per cent to close at N2.10, per share.

However, the total volume traded rose by 148.0 per cent to 1.647 billion units, valued at N19.099 billion, and exchanged in 19,439 deals. Transactions in the shares of Royal Exchange topped the activity chart with 903.593 million shares valued at N903.113 million. Fidelity Bank followed with 137.414 million shares worth N2.420 billion, while Japaul Gold & Venture traded 81.680 million shares valued at N164.225 million.

United Bank for Africa (UBA) traded 60.777 million shares valued at N2.078 billion, while Tantalizers transacted 43.499 million shares worth N111.518 million.

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