Equity market loses N91bn

Trading activities on the floor of Nigerian Stock Exchange on  Wednesday sustained declining profile shedding N91 billion despite the ongoing earning session.

Operators said that the market has not reacted yet to the relatively impressive corporate scorecard and dividend payout released by listed companies on the NSE.
They also observed that there is liquidity squeeze as investors are not injecting funds into the market at this moment.

Specifically, Market Capitalisation of listed equities declined further 0.44 per cent to N20.678 trillion from N20.769 trillion reported on Tuesday.

The NSE All Share Index also depreciated by 175.76 basis points to 39522.06 points from 39697.82 points traded the previous day.

Investors traded 244.342 million shares valued at N4.128 billion in 4714 deals against 222.573 million shares worth N5.390 billion exchanged hands the previous day in 4470 deals.

A review of the transactions showed that Seplat Petroleum Development Company led gainers table in percentage terms, growing by 10 per cent or N53.00 to close at N583.00, AIICO Insurance followed with a gain of 5.12 per cent or N0.06 kobo to close at N1.21 kobo, Cornerstone Insurance gained 5.17 per cent or N0.03 kobo to close at N0.61 per cent, UAC Property Development PLC up by 5.00 or N0.03 kobo to close at N0.84 kobo,Cutix PLC gained 4.21 per cent or N0.08 kobo to close at N2.23 kobo.
Blueprint.ng