Market extends downtrend with balance breadth

The equity market on Tuesday closed on a bearish note as downtrend extended to four straight sessions.

The All Share Index dropped by 0.34% to settle at 66,652.17 points from the previous close of 66,882.64 points.

The Market Capitalisation declined by 0.34% to close at N36.479 trillion from the previous close of N36.605 trillion, thereby shedding N126 billion.

An aggregate of 364 million units of shares were traded in 7,018 deals, valued at N4.5 billion.

The Market Breadth closed balanced as 22 equities appreciated in their share prices against 22 that declined.

Percentage Gainers

Consolidated Hallmark insurance and Cornerstone Insurance led other gainers with 10.00% growth each to close at N1.10 and N1.65 from the previous close of N1.00 anD N1.50 resectively.

UPDCREIT and BETAGLASS also grew their share prices by 9.86% and 9.85% respectively.

Percentage Losers

Conoil, FTN Cocoa and OANDO top the list of price decliners by shedding 9.99%, 9.95% and 9.81% to close the day at N80.20, N1.72 and N9.65 from their previous closes of N89.10, N1.91 and N10.70 respectively.

Volume Drivers

ACCESSCOR traded about 50 million units of its shares in 761 deals, valued at about N784.9 million.

TRANSCORP traded about 48.5 million units of its shares in 508 deals, valued at N291 million.

UBA traded about 45.7 million units of its shares in 547 deals, valued at N787 million.

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