The Nigerian equities market on Thursday extended its downward trajectory with a loss of N292 billion, as investors continued year-end profit-taking and portfolio adjustments.
The Nigerian Exchange Limited All Share Index (NGX ASI) lost by 458.98 basis points or 0.32 per cent to close at 144,187.03 basis points, while the market capitalization declined by N292 billion to close at N 91.710 trillion.
The overall downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Oando, NEM Insurance, Wema Bank, Ikeja Hotels and Nigerian Breweries.
Market sentiment remained bearish, with 38 declining stocks outnumbering 14 gainers. NCR Nigeria recorded the highest price gain of 10 per cent to close at N37.40, per share. Royal Exchange followed with a gain of 7.74 per cent to close at N1.99, while C&I Leasing grew by 6.00 per cent to close at N5.30, per share.
LivingTrust Mortgage Bank up by 3.87 per cent to close at N3.49, while RT Briscoe rose by 3.55 per cent to close at N3.50, per share.
On the other hand, Neimeth International Pharmaceuticals and Omatek Ventures led the losers’ chart by 10 per cent each to close at N4.95 and N1.17 respectively, while Tantalizers followed with a decline of 9.75 per cent to close at N2.50, per share.
International Energy Insurance depreciated by 9.62 per cent to close at N2.35, while Wema Bank declined by 8.63 per cent to close at N18.00, per share.
Also, the total volume traded declined by 60.87 per cent to 349.289 billion units, valued at N9.298 billion, and exchanged in 18,753 deals. Transactions in the shares of Fidelity Bank topped the activity chart with 54.262 million shares valued at N1.032 billion. FCMB Group followed with 30.342 million shares worth N314.930 million, while Tantalizers traded 29.729 million shares valued at N77.505 million.
Guaranty Trust Holding Company (GTCO) traded 25.658 million shares valued at N2.155 billion, while Access Holdings sold 17.936 million shares worth N378.508 million.