Inventory Market Depreciates By N341bn Amid Revenue-taking

The profit-taking continued to dominate the inventory market of the Nigerian Alternate Restricted (NGX) because the capitalisation down by N341 billion amid sustained destructive buyers’ sentiment.

The NGX All Share Index (ASI) decreased by 626.14 foundation factors or 1.16 per cent to shut at 53,124.63 foundation factors. Consequently, the market capitalisation misplaced N341 billion to shut at N28.940 trillion.

Nevertheless, market breadth closed constructive, with 16 gainers versus 9 losers. PZ Cussons Nigeria recorded the best worth acquire of 9.6 per cent to shut at N11.400, per share. Worldwide Power Insurance coverage adopted with a acquire 9.24 per cent to shut at N1.30, whereas Multiverse Mining & Exploration rose 8.72 per cent to shut at N3.24, per share.

FTN Cocoa processors went up by 7.69 per cent to shut at 28 kobo, whereas Regency Alliance Insurance coverage appreciated by 6.90 per cent to shut at 31 kobo, per share. However, Chams Holding Firm led the losers’ chart by 8.00 per cent to shut at 23 kobo, per share, per share. UACN adopted with a decline of 5.76 per cent every to shut at N9.00, whereas Dangote Cement misplaced 4.17 per cent to shut at N276.00, per share.

Fidson Healthcare misplaced 2.95 per cent to shut at N9.55, whereas Status Assurance shed 2.44 per cent to shut at 40 kobo, per share.

The entire quantity traded rose by 101.08 per cent to 202.850 million items, valued at N2.053 billion, and exchanged in 3,071 offers.

Transactions within the shares of Transnational Company (Transcorp) topped the exercise chart with 61.493 million shares valued at N85.307 million. Constancy Financial institution adopted with 26.957 million shares value N139.045 million, whereas Custodian Funding traded 19.969 million shares valued at N121.803 million.

Sterling Financial institution traded 18.652 million shares valued at N29.371 million, whereas Warranty Belief Holding Firm (GTCO) transacted 11.737 million shares value N291.138 million.

On market outlook, GTI Securities Restricted mentioned “buyers proceed to be conservative and sway in direction of protected shares, because the inventory market awaits the dividend announcement by quoted corporations.”