Local Equities Market Drops N108bn Amid Profit-Taking

On October 17, the local equities market declined by N108 billion, with the market capitalization of listed equities decreasing by 0.07 percent to N160.725 trillion from N160.833 trillion recorded the previous day. The NGX All Share Index fell by 167.40 basis points, closing at 247539.73 points, down from 247707.13 points.

Notably, Thomas Wyatt led the gainers’ table with a 10 percent increase, closing at N2.42 per unit, followed by Etranzact with a 9.84 percent gain at N17.30 per share. Conversely, UDPC REIT topped the losers’ chart, dropping by 10 percent to N21.15 per share.

The volume of trades decreased by 29.03 million shares, representing a 10.12 percent decline, with 257.733 million shares traded compared to 286.760 million the previous day. The value of shares traded fell by 14.63 percent to N13.07 billion, with UBA leading market activities, trading 28.288 million shares valued at N1.216 billion.