Kayode Tokede
The domestic stock market yesterday depreciated by N544.5 billion over investors profit-taking in First Holdco Plc and 36 others to sustain its downward trend for the second consecutive trading session this week.
As the stock price of First Holdco dipped by 5.71per cent or N8.00 per share to close at N132.00 per share, the market capitalisation of all listed companies closed for trading at N155.973 trillion, about N544.5 billion or 0.35 per cent drop from N156.518 trillion the stock market opened for trading.
The NGX All Share Index closed for trading at 241,611.23 basis points, which is 843.42 basis points or 0.35 per cent lower than the 242,454.65 basis points the stock market opened for trading.
Consequently, the NGX ASI in its Month-to-Date and Year-to-Date returns settled at -1.5per cent and +55.3per cent, respectively.
Analysing by sector, the NGX Banking Index (-1.8per cent) and NGX Consumer Goods Index (-0.1per cent) indices declined, while the NGX Industrial Goods, NGX Insurance, and NGX Oil & Gas indices closed flat.
As measured by market breadth, market sentiment was negative as 22 stocks gained relative to 37 losers.
HM Call Plc recorded the highest price gain of 9.97per cent to close at N4.84, per share. Veritaskap followed with a gain of 7.09 per cent to close at N1.36 , while Tantalizer rose by 5.26 per cent to close at N4.00 per share.
RT Briscoe appreciated by 4.31 per cent to close at N10.90 , while Regalins rose by 3.66 per cent to close at N0.85, per share.
On the other hand, Red Star Express Plc led the losers’ chart by 10 per cent to close at N16.20, per share. Trans Express Plc followed with a decline of 9.94 per cent to close at N2.81, while Meyer & Baker declined by 9.88 per cent to close at N15.05, per share.
Chellaram dipped by 9.77 per cent to close at N9.70, while FTG INSURE depreciated by 9.70 per cent to close at N2.14 per share.
The total volume traded declined by 67.7per cent to 429.84 million units, valued at N27.48 billion, and exchanged in 35,683 deals. Sterling Financial Holdings Company Plc was the most traded stock by volume at 51.57 million units, while MTN Nigeria Communications Plc was the most traded stock by value at N9.76 billion.