Nigeria stock market closes for Christmas with 0.10% loss

The Nigerian Stock Exchange (NSE) closed for Christmas and Boxing Day holidays on Tuesday with a marginal loss of 0.10 per cent.

Specifically, the All-Share Index dropped 24.92 points or 0.10 per cent to close at 26,090.88 compared with 26,115.60 recorded on Monday.

In the same vein, the market capitalisation lost N10 billion to close at N12.596 trillion in contrast with N12.606 trillion on Monday.

A breakdown of the price movement chart indicates that Stanbic IBTC recorded the highest loss to lead the laggards’ table, depreciating by N1.10 to close at N36.40 per share.

Dangote Sugar Refinery trailed with a loss of 80k to close at N13.65, while Guaranty Trust Bank lost 35k to close at N29 per share.

UACN was down by 20k to close at N8.10, while Zenith Bank declined by 15k to close at N18.15 per share.

Conversely, Unilever led the gainers’ table growing by N1.95 to close at N22.15 per share.

Cadbury followed with a gain of 65k to close at N10.25,while UPDC Real Estate Investment Trust inched 35k to close at N3.95 per share.

Ecobank Transnational increased by 30k to close at N6.30, while Access Bank garnered 20k to close at N9.90 per share.

In spite of the drop in market indicators, the volume of shares traded rose by 71.83 per cent.

Consequently, investors bought and sold 324.40 million shares valued at N1.66 billion in 1,993 deals.

This was against a turnover of 188.79 million shares worth N2.43 billion transacted in 2,605 deals on Monday.

Law Union and Rock Insurance was the most active stock, exchanging 146.27 million shared valued at N73.13 million.

Access Bank came second with an account of 40.57 million shared valued at N402.26 million, while Zenith Bank traded 32.16 million shares worth N586.38 million.

Transcorp sold 26.99 million shares valued at N24.52 million, while FBN Holdings exchanged 21.19 million shares worth N127.13 million.

The News Agency of Nigeria (NAN) reports that the nation’s bourse will resume trading on Dec. 27 after the two days public holidays declared by the Federal Government to mark Christmas and Boxing Day.