The Nigerian equities market closed on negative note yesterday following losses suffered by banking stocks. The market, which had recovered from a two-day fall the previous day, declined Thursday with the Nigerian Stock Exchange All-Share Index shedding 0.13 per cent to close at 27,646.15. The market capitalisation shed N42.7 billion to close at N13.4 trillion.
On the positive side, Consolidated Hallmark Insurance Plc led the price gainers with 10 per cent, followed by UAC of Nigeria Plc with 9.9 per cent. Linkage Assurance Plc appreciated by 9.8 per cent, just as Continental Reinsurance Plc chalked up 9.7 per cent. Meanwhile, activity level declined as volume and value traded fell by 35.2 per cent and 68.7 per cent to 245.4 million units and N1.7 billion respectively. The most active stocks by volume were FBN Holdings Plc , Sterling Bank and United Bank for Africa Plc while FBN Holdings Plc , GTBank N268.9 million ) and MTN Nigeria Communications Plc led by value.