The local equity market on Friday returned to bearish run, depreciating by N313 billion as losses recorded in the shares of Transpower, Transcorps, TranscoHotel, Nigeria Breweries impacted negatively on the trading activities.
Market capitalisation of listed equities declined by 0.46 per cent to N68.339 trillion from N68.652 trillion reported the previous day.
The NGX All Share Index also depreciated by 498.56 basis points to 108733.40 points from 109231.96 points recorded the previous day.
The low performance recorded during the day was driven by losses in the stocks of Fidelity Bank, Nahco, Transpower, Transcorps, TranscoHotel, Eterna and other 26 firms that depreciated during trading on Friday.
As a result, year to date return went down to 5.64 per cent as 32 companies that took negative direction wiped out gains recorded by the 34 gainers.
A review of investment showed that ABC Transport and Sterling Bank led gainers table with 10 per cent to close at N2.86 and N 6.05 per share respectively.
Chellaram followed with a gain of 9.94 per to close at N10.40 per share, Academy press added 9.92 per cent to close at N4.32 per unit, Redstarex gained 9.90 per cent to close at N5.55 per unit.
On the contrary, Transpower topped losers chart, dropping by 9.98 per cent to close at N328.50 per unit, HMCall trailed with a loss of 9.57 per cent to close at N4.25 per unit, Meyer Paint down by 9.09 per cent to close at N8.00, Regal Insurance down by 6.78 per cent to close at N0.55 per share, SUNU Assurance fell by 6.73 per cent to close at N4.99 per unit.
Volume of trades declined by 14.347 million representing 17.12 per cent as investors traded 459.212 million shares valued at N11.164 billion in 15723 deals against 554.069 million shares worth N14.347 billion exchanged hands the previous day in 16704 deals.
Transactions in the shares of Tantalizer led market activities with 101.380 million shares valued at N237.330 million, GTCO Plc followed with accounts of 51.281 million shares valued at N3.536 billion, AccessCorp traded 45.165 million shares cost N975. 268 million, Zenith Bank exchanged 21.796 million shares worth N1.057 billion while Sterling Bank traded 15.500 million shares cost N91.759 million