Stock market indices drop by 0.4%

Trading on the Nigerian bourse closed negative on Tuesday with the All-Share Index (ASI) decreasing by 0.4 per cent to 51.586.5 from 51,791.45 on Wednesday.

Similarly, the market capitalisation dropped by N110.49 billion to N27.810 trillion from N27.921 trillion recorded on Monday.

The Year-to-Date (YTD), however, returns increased to 20.76 per cent.

The market breadth closed positive as 23 stocks advanced against 16 stocks that declined.

Redstar Express recorded the highest price gain of 10 per cent to close at N2.75 per share.

John Holt followed with a gain of 9.76 per cent to close at 90k per share, while UPDC rose by 9.73 per cent to close at N1.24 per share.

Unity Bank rose by 9.52 per cent to close at 46k while Academy Press gained 8.33 per cent to close at N1.43 per share.

On the other hand, International Breweries led the losers’ chart by 9.52 per cent to close at N5.70 per share.

Chi Plc declined by eight per cent to close at 69k while Jaiz Bank depreciated by 6.67 per cent to close at 84k per share.

NASCO followed with a decline of 6.38 per cent to close at N11 per share, while Bua Foods lost 6.36 per cent to close at N51 per share.

Meanwhile, shares of CAP led the volume chart with 29.32 million shares valued at N499.95 million.

Guaranty Trust Holding Company (GTCO) followed with 29.02 million shares worth N592.44 million, while United Bank for Africa (UBA) traded 25.40 million shares valued at N189.27 million.

Transcorp traded 23.87 million shares valued at N30.14 million, while Sterling Bank transacted 16.44 million shares worth N24.43 million.

The total volume traded decreased by 18.65 per cent to 234.61 million units, valued at NGN2.57 billion, exchanged in 4,646 deals.