NGX: Capitalization Down further by N6BN
Negative sentiment continued on the nation market on Wednesday with market capital declined further by N6 billion after selling pressure of several blue chips. Market capitalization lost N6 billion or 0.03 percent to close at N20.210 trillion compared to the N20,216 trillion achieved on Tuesday. In the same tone, the All-Share index dipped 11.12 points or 0.03 percent to close at 38.791.03 from 38.802.15 recorded on Tuesday. Thus, the increase in the date of the date reached 2.3 percent, while year-on-year losses remained flat at 3.7 percent. The negative performance of the market driven by depreciation prices in large and medium stocks among those; Eterna, Zenith Bank, Vitafoam Nigeria, Pharma-Deko PLC and United Bank for Africa. Analysts in Afrinvest Ltd estimate that selling pressure will survive because investors adjust their ownership in the light of the new policy of the Nigerian Central Bank stop the supply of the De Chnage Bureau operator. The consolidated and Tripple Gee Hallmark Insurance leads the loser chart in the percentage percentage of 10 percent each to close at 54K and 90K per share, respectively. Pharma-deco followed with a decrease of 9.92 percent to close at N1.09 per share. Alliance District Insurance lost 6.82 percent to close at 41K, while Etherna spilled 6.58 percent to close at N7.10 per share. Conversely, Capital Hotel leads the control chart in a percentage with 9.85 percent provisions to close at N2.90 per share. Oando followed with 9.81 percent to close at N5.26, while BOC gas rose 8.88 percent to close at N9.20 per share. The FTN cocoa processor rose 8.16 percent to close at 53K, while animal feed rose 4.80 percent to close at N2.40 per share. The transaction in Oando shares topped the charts with an exchange of 44.29 million shares worth N232.96 million. Uba followed 19.65 million shares worth N150.75 million, while Bank Wema traded 14.24 million shares worth N11.88 million. Access Bank sells 13.29 million shares worth N123.73 million, while the Jaiz Bank transacts 12.29 million shares worth N7.58 million. Overall, the total volume of transactions fell 2.3 percent to 237.51 million shares worth N1.88 billion in 4,305 transactions. This is different from 243.09 million shares worth N1.89 billion exchanged in 4,326 transactions on Tuesday.