Equities market halts bullish run as investors lose N28.8bn

The local equities market halts its bullish run having shed 0.22 per cent leaving the All Share Index at 25,166.01 basis points pegging year to date return at -6.24 per cent

Investors, on Thursday, lost N28.8 billion, as the market capitalisation recorded 0.22 per cent loss at the close of trading to settle N13.115 trillion.

Despite the bearish outlook, market breadth managed a bullish return recording 19 gainers against 18 losers on the performance chart with Cutix leading the gainers’ table while Ecobank Transnational Incorporation led the decliners’ table.

Market Activity, however, was unimpressive as the volume of trades recorded a total of 341 million shares, on Thursday, a 41.25 per cent decline from 341 million shares traded in the previous session. Value followed suit to close downbeat by 39.96 per cent from the previous session of N5.59 billion to N3.35 billion.

FBN Holdings stocks were the toast of the day as the best performer in terms of volume having exchanged 47.39 million shares worth N261.94 million. 36.87 shares of Access Bank was also exchanged for N270.7 million.

For the top five performers in terms of the value of units traded Guaranty Trust Bank took the lead, followed by Zenith Bank, MTN Nigeria, Access Bank and FBN Holdings.

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