Thursday, December 8, 2022

Market capitalisation sheds N19 billion as First Bank, Zenith, others drop value

It marks the third consecutive loss in a week.

• May 18, 2022
First Bank, Zenith, Transcorp, Julius Berger
First Bank, Zenith Bank Transcorp and Julius Berger

Profit taking in larged and medium capitalised stocks downed the nation’s bourse by N19 billion on Wednesday.

It marks the third consecutive loss in a week.

Specifically, the All-Share Index decreased by 34.28 points or 0.07 per cent to close at 52,721.34 against 52,756.62 reported on Tuesday.

Accordingly, Year-to-Date gain stood at 23.42 per cent.

Also, the market capitalisation shed N19 billion or 0.07 per cent to close at N28.423 trillion from N28.442 trillion recorded the previous day.

The downtrend was impacted by losses recorded in large and medium capitalised stocks, amongst which were; First Bank of Nigeria Holdings (FBNH), Zenith Bank  Transcorp and Julius Berger.

Market breadth closed negative with 21 gainers compared with 23 losers.

McNichols topped the gainers’ chart in percentage terms with 9.94 per cent to close at N1.77 per share.

Transcorp Hotel followed with 9.84 per cent to close at N5.36 while Champion rose by 3.96 per cent to close at N7.03 per share.

ChiPlc rose by 0.65 per cent to close at N6.56, while Multiverse Mining and Exploration appreciated by 0.22 per cent to close at N45.76 per share.

Conversely, Academy Press  led the losers’ chart in percentage terms by 9.93 per cent to close at N1.36 per share.

Julius Berger dropped by 8.86 per cent to close at N7.20.

Neimeth and May Beker followed with a loss of 8.57 per cent and 8.51 per cent each to close at N1.60 and N4.30 respectively.

Also, Wema Bank declined by 7.61 per cent to close at N3.28  per share.

However, the total volume of shares traded declined by 53.77 per cent to 611.97 million shares valued  N7.43 billion exchanged in 5, 948 deals.

This was in contrast with a total of 1.32 million shares worth N7.72 billion achieved in 6,449 deals on Tuesday.

Transactions in the shares of FBNH topped the activity chart with 153.43 million shares valued N1.9 billion.

Jaiz Bank sold 116.64 million shares worth N104.48 million, while Guaranty Trust Holding Company (GTCo)  accounted for 65.93 million shares valued  N1.58 billion.

First City Monument Bank (FCMB) traded 43.49 million shares worth N152.17 million, while Transcorp transacted 40.73 million shares valued N57.83 million. 

(NAN)

We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.

More from Peoples Gazette

Team Edo

Sport

Team Edo win gold medals in wrestling, cricket, pole vault 

Team Edo on Wednesday hauled more gold medals from wrestling, cricket and pole vault events at the 21st National Sports Festival (NSF) in Asaba.

Equity market

Economy

Equity market stays bullish, up by 0.12%

The nation’s equity market on Wednesday remained on a bullish note with bargain buying on Nestle and other 10 stocks.

Governor Aminu Tambuwal and Chief of Army Staff (COAS), Lt.-Gen. Faruk Yahaya

States

Tambuwal praises Nigerian Army over civil-military projects

Governor Aminu Tambuwal joined residents of Sifawa and other communities in the Bodinga local government area in commending civil-military projects executed by the Nigerian Army.

New York Times

Rights

New York Times editors, reporters go on strike

The newsroom at The Times employs more than 1,800 people. Compensation is the negotiation’s most contentious topic.

Yobe State House of Assembly

States

Yobe parliament suspends revenue board chairman nominee’s screening

The Yobe House of Assembly has suspended the screening of Sani Kaitafi as Chairman of the state Internal Revenue Board.

Sadiya Umar Farouq and N-Power

Anti-Corruption

N-Power: Sadiya Farouq promises to support ICPC’s fraud investigation

Humanitarian minister Sadiya Umar Farouq has pledged to support the ICPC in its investigation of alleged fraud in the N-Power Programme.