The Nigerian equities market yesterday extended its downturn, as capitalisation declined further by N292 billion, amid price depreciation in 38 stocks.

At the close of trading yesterday, the All Share Index (ASI) lost by 458.98 points, representing a loss of 0.32 per cent to close at 144,187.03 points. Also, market capitalization declined by N292 billion to close at N 91.710 trillion.

The overall downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Oando, NEM Insurance, Wema Bank, Ikeja Hotels and Nigerian Breweries.

Market sentiment remained bearish, with 38 declining stocks outnumbering 14 gainers. NCR Nigeria recorded the highest price gain of 10 per cent to close at N37.40 kobo. Royal Exchange followed with a gain of 7.74 per cent to close at N1.99 kobo, while C&I Leasing grew by 6.00 per cent to close at N5.30 kobo.

LivingTrust Mortgage Bank up by 3.87 per cent to close at N3.49 kobo, while RT Briscoe rose by 3.55 per cent to close at N3.50 kobo.

On the other hand, Neimeth International Pharmaceuticals and Omatek Ventures led the losers’ chart by 10 per cent each to close at N4.95 kobo and N1.17 kobo respectively, while Tantalizers followed with a decline of 9.75 per cent to close at N2.50 kobo..

International Energy Insurance depreciated by 9.62 per cent to close at N2.35, while Wema Bank declined by 8.63 per cent to close at N18.

Sectoral performance was mostly bearish, with Insurance down 1.35 per cent, Banking dropping 1.22 per cent, Oil & Gas falling 0.18 per cent, Commodity also easing by 0.18 per cent and Industrial slipping by 0.005 per cent, while Consumer Goods recorded a modest gain of 0.09 per cent.

Also, the total volume traded declined by 60.87 per cent to 349.289 billion units, valued at N9.298 billion, and exchanged in 18,753 deals.

Transactions in the shares of Fidelity Bank topped the activity chart with 54.262 million shares valued at N1.032 billion. FCMB Group followed with 30.342 million shares worth N314.930 million, while Tantalizers traded 29.729 million shares valued at N77.505 million.

Guaranty Trust Holding Company (GTCO) traded 25.658 million shares valued at N2.155 billion, while Access Holdings sold 17.936 million shares worth N378.508 million.