Equity market down by 0.03% as UAC Property leads losers

All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) dropped by 0.03 per cent on Wednesday to close at 28,027.23 basis points. The day’s performance thus increased the year to date losses to -2.15 per cent.

Investors on the bourse consequently lost N2.4 billion as market capitalisation dipped to N9.626 trillion in contrast to N9.629 trillion.

Investor sentiment remained negative as market breadth closed flat with 13 gainers to 20 losers. UAC-Property topped the losers chart with a loss of 9.37 per cent or 37 kobo to close at N3.58 per share, E-Tranzact Plc dropped 4.92 per cent or 28 kobo to close at N5.41 per share, Learn Africa Plc also depreciated by 4.76 per cent or 3 kobo to close at 60 kobo per share.

Paintcom Plc came fourth on the losers list having shed 4.55 per cent or 4 kobo of its share price to close at 84 kobo per share, while FCMB Plc depreciated 4.27 per cent 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.

Conversely, Caverton Offshore Support Group Plc led the day’s gainers with an appreciation of 8.57 per cent 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 per cent or N3.74kobo to close at N79.74kobo per share, Wema Bank Plc came fourth with an increase of 4.84 per cent or 3 kobo to close at 65 per share and WAPIC Insurance Plc gained 4 per cent or 2 kobo to close at 52 kobo per share.

Other equity gainers were UBA, Skye Bank, Access Bank, United Capital, and Total Nigeria Plc. FBN Holdings Plc, Guaranty Trust Bank and Zenith Bank Plc also recorded gains of varying degrees at the close of the day’s trade.

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.