By Ifeyinwa Ezeokoli
Trading in the local bourse opened the week after Sallah holiday on a negative note with the main market index down 0.32 per cent against the last closed.
The market capitalization also declined by N90 billion at the close of the market on Wednesday, according to the details of the trading report on the Nigerian Exchange Limited.
The All Share Index decreased by 0.32 per cent to close at 51,390.25 points while the market capitalisation of equities listed on the NGX decreased to N27.713 trillion from N27.803 trillion it closed the previous trading day.
Accordingly, the month-to-date and year-to-date returns stood at 0.8 per cent and 20.3 per cent, respectively.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nigerian Aviation Handling Company (NAHCO), Red Star Express, Multiverse Mining and Exploration, Cutix and Access Holdings Plc.
The NGX 30 Index decreased by 0.35 per cent to close at 1,871.92 points as against 1,878.56 points at the previous close.
Market turnover closed with a traded volume of 116.53 million units. The market breadth closed negative with 25 losers versus 11 gainers.
On market outlook, United Capital Plc said “Equity market begins the week negative, as bargain hunting trailed the market. We expect cautious trading to continue throughout the week.”
Multiverse Mining and Exploration led the losers’ chart in percentage terms by 10 per cent to close at N1.89 per share.
Red Star Express followed with 9.82 per cent to close at N2.48, while Cutix went down by 8.33 to close at N2.20 per share.
Unity Bank lost 8.16 per cent to close at 45k, while Livestock Feeds shed 7.97 per cent to close at N1.27 per share.
Conversely, Computer Warehouse Group (CWG) led the gainers’ chart in percentage terms by 10 per cent to close at 88k per share.
Caverton Offshore Support Group followed with 9.84 per cent to close at N1.34, while Academy Press appreciated by 9.52 per cent to close at N2.07 per share.
R.T. Briscoe Nigeria went up by 8.82 per cent to close at 37k, while International Breweries appreciated by 7.41 per cent to close at N5.80 per share.
However, the total volume of trades increased by 72.7 per cent to 198.82 million units valued at N2.18 billion exchanged in 4,769 deals.
Transactions in the shares of Guaranty Trust Holding Company topped the activity chart with 51.89 million shares valued at N1.06 billion.
Japaul Gold and Ventures followed with 21.91 million shares worth N5.69 million, while United Bank for Africa traded 19.65 million shares valued at N147.68 million.
Jaiz Bank traded 12.55 million shares valued at N11.07 million, while International Breweries transacted 9.06 million shares worth N52.26 million.
On the money market, the Overnight (O/N) rate remained unchanged at 14.00 per cent, and the Open Repo (OPR) rate remained unchanged at 13.83 per cent.
Also, at the I&E forex market, the Naira appreciated by 0.36 percent as the dollar was quoted at N424.58 as against the last close of N426.13. Most participants maintained bids between N410.00 and N444.00 per dollar.