Domestic equity reclines, dips by N134bn

Domestic equities on Tuesday took negative direction declining by N134 billion as sell off in shares of BUACement, Zenith , FBNHoldings and others impacted on the market.

Market capitalisation of listed equities declined by 0.47 per cent to N28.021 trillion from N28.155 trillion reported the previous day.

The NGX All Share Index also depreciated by 246.48 basis points to 51446.60 points from 51693.08 points traded the previous day.

Market sentiment, as measured by market breadth was positive with 18 gainers relative to 16 decliners.

Thomas Wyatt led gainers table in percentage terms during the day, increasing by 9.43 per cent to close at N1.16 per unit, Mutual Benefits Assurance followed with a gain of 7.14 per cent to N0.30 per unit, Academy Press added 5.65 per cent to close at N1.31, Lasaco Insurance gain 4.44 per cent to close at N0.94 per unit while Charm Plc increased by 4.35 per cent to N0.24 per share.

On the other hands, NEM Insurance topped losers chart, during the day, dropping by 10 per cent to N4.05, Chellaram trailed with a loss of 9.90 per cent to N1.82, Champion Breweries declined by 9.58 per cent to N4.34, Cornerstone Insurance dipped by 6.67 per cent to N0.56, Honey Well Flour Mills dropped by 4.96 per cent to N2.30.

The total volume of trades increased by 50.72 percent to 345.491  million units, valued at N8.290 billion exchanged in 4184 deals against 229.221 million shares valued at N2.907 billion in 3900 deals.