Following the signing of 2017 Appropriation Bill into law yesterday by the Acting President, Prof. Yemi Osinbajo, the Nigerian equities market has shed of N14 billion (0.12 per cent).
The market capitalisation slid to N11.489tn from N11.503tn, as the All-Share Index closed at 33,235.28 basis points from 33,276.68 basis points.
A total of 501.081 million shares worth N6.111bn were traded in 6,635 deals with the year-to-date return settled at 23.67 per cent with 20 gainers and 30 losers.
Ashaka Cement Plc topped the gainers’ list, advancing by 10.09 per cent to close at a year high of N12.77. This was followed by May & Baker Nigeria Plc, Honeywell Flour Mill Plc, Sterling Bank Plc and PZ Cussons Nigeria Plc, which appreciated by 9.86 per cent, 9.60 per cent, 9.43 per cent and 9.34 per cent, respectively.
However, International Breweries Plc closed the day as the top loser, declining by 8.63 per cent to close at N29.45. UACN Plc, AIICO Insurance Plc, Fidelity Bank Plc and University Press Plc followed, depreciating by 5.84 per cent, 5.36 per cent, 4.93 per cent and 4.91 per cent, accordingly.
At the close of trading, the oil/gas and food/beverage indices were the only indices that declined, while the insurance, banking and industry indices recorded respective advancements of 1.10 per cent, 0.46 per cent and 0.14 per cent.