Losses in GEREGU, others drag capitalisation by N25 billion

Losses recorded by many blue-chip stocks on the equities sector of the Nigerian Exchange Limited (NGX) dragged market capitalisation by N25 billion.

Specifically, at the close of transactions yesterday, market capitalisation of listed equities depreciated by 0.10 per cent to N24.094 trillion from N24.119 trillion reported the previous day.

Also, the All Share Index declined by 46.32 absolute points to 44236.70 points from 44283.02 points reported the previous day.

Investors traded 215.154 million shares valued at N1.905 billion in 3389 deals against 155.406 million shares valued at N1.526 billion in 3796 deals.

On the price movement chart, Prestige Insurance topped the losers’ chart, shedding 9.80 per cent to close at 46 kobo while Caverton trailed with 9.38 per cent to close at 87 kobo. SUNU Assurance fell by 8.57 per cent to close at 32 kobo, Unilever Nigeria Plc was down by 8.29 per cent to close at N9.95 kobo. Multiverse dropped by 8.25 per cent to close at N4.24 kobo.

Ikeja Hotel shed 6.93 per cent to close at 94 kobo while Oando depreciated by 5.92 per cent to close at N4.13 kobo. Fidson lost 3.98 per cent to close at N8.69 kobo. GEREGU shed 3.57 per cent to close at N110.90 kobo. Wapic Insurance also lost 2.78 per cent to close at 35 kobo.

UPDC Reits led the gainers’ table, increasing by 9.09 per cent to close at N3. Trans Express followed with a gain of 8.82 per cent to close at 74 kobo. Champion Breweries added 7.81 per cent to close at N3.45 kobo, Japaul Gold was up by 7.69 per cent to close at 28 kobo.

Cutix Plc gained 4.88 per cent to close at N2.15 kobo. Chams appreciated by 4.17 per cent to close at 25 kobo. Jaiz Bank gained 3.13 per cent to close at 99 kobo. Livestock increased by 3.00 to close at N1.03 per share. Mansard appreciated by 1.24 per cent to close at N1.63 per share. United Bank for Africa garnered 74 per cent to close at N6.80 kobo.

Vetiva Dealings and Brokerage said: “The 90m cross trade in AccessCorp helped improve activity, as the market closed out relatively quiet today. Barring any large volume trades tomorrow, we anticipate another tepid session.”

AccessCorps was the toast of investors, exchanging 112.333 million shares valued at N892.561 million, Transcorps followed with an account of 16.068 million shares cost N16.713 million, Sterling Bank traded 12.256 million shares valued at N16.640 million, Fidelity Bank sold a total of 9.290 million shares worth N38.190, Zenith Bank sold a total of 7.190 million shares worth N14.829 million.