Nigerian Equities market recoiled from Tuesday’s 0.39 percent growth as profit taking in the Industrial (-0.9 percent) and Consumer goods (-0.6 percent) sectors dampened market performance, reducing the Nigerian Stock Exchange (NSE) All Share Index (ASI) by 0.03 percent to close at 28,027.23 points. The day’s performance thus increased the year to date losses to -2.15 percent.

Investors on the Nigerian bourse consequently lost N2.4 billion as market capitalisation dipped to N9.626 trillion in contrast to N37.5 billion gained previously when market capitalization closed at N9.629 trillion.

Overall investor sentiment remained negative as market breadth closed flat with 13 gainers to 20 losers. Caverton Offshore Support Group Plc led the day’s gainers with an appreciation of 8.57 percent or 6 kobo to close at 76 kobo per share, Seplat Petroleum Plc followed with a gain of 5 percent or N18.37 to close at N385.88 per share, Guinness Nigeria Plc grew by 4.92 percent or N3.74kobo to close at N79.74kobo per share, Wema Bank Plc came fourth with an increase of 4.84 percent or 3 kobo to close at 65 per share and WAPIC Insurance Plc gained 4 percent or 2 kobo to close at 52 kobo per share. Other equity gainers were UBA, Skye Bank, Access Bank, United Capital, and Total.

FBN Holdings Plc, Guaranty Trust Bank and Zenith Bank Plc also recorded gains of varying degrees at the close of the day’s trade.

On the flip side, UAC-Property topped the losers chart with a loss of 9.37 percent or 37 kobo to close at N3.58 per share, E-Tranzact Plc dropped 4.92 percent or 28 kobo to close at N5.41 per share, Learn Africa Plc also depreciated by 4.76 percent or 3 kobo to close at 60 kobo per share.

Paintcom Plc came fourth on the losers list having shed 4.55 percent or 4 kobo of its share price to close at 84 kobo per share, while FCMB Plc depreciated 4.27 percent or 5 kobo to close at N1.12 per share. Other losers were Nahco, Flourmill, Presco, Dangote Sugar, Wapco, Oando, Nestle, Fidelity Bank, Transcorp, Diamond Bank, Aiico, Champion, Nigerian Police Force Microfinance Bank, Union Bank and Nigerian Breweries

Market activity as measured by Volume and Value traded in 3,227 deals, settled at 155.6 million units and N1.4 billion respectively. Trading in the Top Three equities were Guaranty Trust Bank Plc that sold 28.1 million units of shares valued at N672.8 million, UBA Plc came second with the sale of 28.0 million shares worth N119.8 million and Transcorp Plc sold 14.7 million units of shares valued at N15 million.



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