Equities Market Falters As ASI Down N112bn


The domestic equities market moderated by N112 billion or 0.42 per cent, following a sell-off on mid and large-cap stocks.

The All Share Index (ASI) decreased by 206.87 absolute points, representing a dip of 0.42 per cent to close at 48,964.83 points. Similarly, the market capitalisation closed at N26.419 trillion.

The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nestle Nigeria, United Capital, Africa Prudential, FCMB Group and Guaranty Trust Holding Company (GTCO).

The market breadth closed negative, with 14 losers versus 12 gainers. Jaiz Bank  recorded the highest price gain of 9.21 per cent to close at 83 kobo, per share. Ikeja Hotel followed with a gain 8.77 per cent to close at N1.24, while Multiverse Mining and Exploration rose 8.21 per cent to close at N3.69, per share.

Consolidated Hallmark Insurance went up by 7.55 per cent to close at 57 kobo, while Chams appreciated by 7.41 per cent to close at 29 kobo, per share. On…

Source: Leadership Newspaper