NGX reverses gains as capitalisation dips by N35 billion

TRADING activities on the floor of Nigerian Exchange Limited ( NGX) halted gains to close on a downturn yesterday, causing market capitalisation to decline by N35 billion. At the close of transactions yesterday, market capitalisation of listed equities declined by 0.06 per cent to N56.469 trillion from N56.504 trillion reported the previous day. The All Share Index also went down by 62.98 basis points to 99845.91 points against 99908.89 points traded on Wednesday. A breakdown of activities showed that Guinness Nigeria Plc led gainers table with 10 per cent to close at N55. Neimeth international Pharmaceutical followed with a gain of 9.76 per cent to close at N1.80 kobo, Morison gained 9.73 per cent to close at N3.72 kobo. International General Insurance added 9.30 per cent to close at N1.41 kobo. Regal Insurance also increased by 8.33 per cent to "WTD loss currently at 2.41 per close at 39 kobo. On the concent, with the banking sector trary, United Capital topped accounting for majority of the losers chart, dropping by this week’s bearish perform9.73 per cent to close at N18.10 ance. We expect another negakobo, Conhall Plc trailed with tive weekly close, amid slow a drop of 9.70 per cent to close recovery." Investdata at N1.21 kobo, CWG down by Consulting Limited, said: 9.52 per cent to close at N5.70 "Therefore, investors should kobo, Chams Plc fell by 9.14 target companies with consisper cent to close at N1.69 tent track records of dividend kobo, SUNU Assurance shed payment, strong fundamen8.20 per cent to close at N1. tals and growth prospects On what will shape the marthat will support further ket in the next trading ses - growth in earnings, which sion, analysts at V etiva price feeds on in any market Dealings and Brokerage said: cycle."