Transaction activities in the Nigerian equities market yesterday sustained negative sentiment with 1.06 per cent loss, following sell down on some large capitalised stocks.
In summary, the All-Share Index (ASI) shed 254.93 absolute points, representing a decline of 1.06 per cent to close at 23,695.90 points. Similarly, the overall market capitalisation size lost N133 billion to close at N12.349 trillion.
The down trend was impacted by losses recorded in large and medium capitalised stocks, amongst which are; Dangote Cement, MTN Nigeria Communications, BUA Cement, Caverton Offshore Support Group and Arbico Plc.
Analysts at Afrinvest Limited said “We maintain our expectation of a mixed performance in the near-term.”
Market breadth closed negative, with 14 gainers versus 15 losers. Neimeth International Pharmaceuticals recorded the highest price gain of 10 per cent, to close at 66 kobo, per share. NPF Microfinance Bank followed with a gain 9.76 per cent to close at N1.35, while Eterna went up by 9.44 per cent to close at N2.55, per share.
McNichols Plc went up by 8.70 per cent to close at 50 kobo, while C&I Leasing appreciated by 6.25 per cent  to close at N5.10, per share. On the other hand, Caverton Offshore Support Group led the losers’ chart by 10 per cent, to close at N2.43, per share. Arbico Plc followed with a decline of 9.73 per cent to close at N2.32, while Afromedia Plc lost 8.82 per cent to close at 31 kobo, per share.
Lasaco Assurance lost 7.41 per cent to close at 25 kobo, while Wapic Insurance shed 6.67 per cent each to close at 28 kobo, per share.
The total volume traded declined by 24 per cent to 115.746 million shares, worth N1.675 billion, and traded in 4,005 deals. Transactions in the shares of FBN Holdings topped the activity chart with 27.845 million shares valued at N133.592 million. UAC of Nigeria (UACN) followed with 16.621 million shares worth N114.710 million, while Guaranty Trust Bank traded 14.971 million shares valued at N314.694 million.
Zenith Bank traded 9.172 million shares valued at N138.342 million, while Mutual Benefits Assurance transacted 8.054 million shares worth N1.611 million.