Eq­uity loss per­sists with fresh N14bn

Daily Trust - - NEWS - From Omobayo Azeez, La­gos

Trad­ing ac­tiv­i­ties again slowed to be­gin the week in the red ter­ri­tory, yes­ter­day, as the bears main­tained dom­i­nance, cost­ing eq­uity in­vestors some N14bn.

Ac­cord­ing to some stock­bro­kers, the loss, which has re­cently taken over the mar­ket, was partly con­nected to profit-tak­ing by some in­vestors and, also, to the un­set­tle cli­mate of some in­sti­tu­tions in the bank­ing sec­tor.

It would be re­called that the Cen­tral Bank of Nige­ria (CBN), re­cently, said it was fo­cus­ing its search­light on some banks, prompt­ing fears that some banks found guilty of any mis­giv­ings would be sanc­tioned.

As the mar­ket closed yes­ter­day, the mar­ket cap­i­tal­i­sa­tion and the All-Share In­dex lost by 0.14 per cent to close at N9.896trn and 28,813.51 ba­sis point re­spec­tively.

Mar­ket breadth also closed neg­a­tive as de­clin­ing stocks out­num­bered gain­ing ones in the ra­tio 30 to 16 while 8 other stocks closed flat in terms of their re­spec­tive share prices.

Mar­ket turnover, how­ever, closed pos­i­tively as traded vol­ume and value ap­pre­ci­ated by 17.2 per cent and 50.18 per cent re­spec­tively.

Gen­er­ally, the ses­sion closed with in­vestors trad­ing 275.364m shares val­ued at N3.442bn in 4,865 trades com­pare with 234.961mn share units worth N2.292bn that ex­changed hands on the floor in 4,145 deals pre­vi­ously.

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