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Nigerian stock market declines, Index drops 0.32%

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The Nigerian equities market closed negative on Wednesday as the All-Share Index decreased to 51,390.25 basis points after a two-day holiday break.

The point represented a decrease of 0.32 per cent, compared with 51,557.41 basis points recorded on Friday.

Consequently, the figure indicated an increased Year-to-Date (YTD) return of 20.31 per cent.

Similarly, the market capitalisation fell by N90 billion to N27.713 trillion from N27.803 trillion at the last trading.

The market breadth was negative, as 11 stocks advanced and 25 stocks declined.

The share prices of CWG gained 10 per cent to top the gainers’ list to close at 88k per share, while Caverton Offshore Technology Company appreciated by 9.84 per cent to close at N1.34 per share.

Academy Press gained by 9.52 per cent to close at N2.07 per share.

RTBriscoe and International Breweries inched by 8.82 per cent and 7.41 per cent to close at 37k and N5.80 per share respectively.

Conversely, Multiverse declined by 10 per cent to lead the losers’ chart to close at N1.89 per share.

Red Star Express followed by 9.82 per cent to close at N2.48 per share.

Cutix dropped by 8.33 per cent to close at N2.20, while Unity Bank shed 8.16 per cent to close at 0.45 per share.

Livestock fell by 7.97 per cent to close at N1.27 per share.

Meanwhile, the total volume of shares traded depreciated by 72.69 per cent with an exchange of 198.82 million shares in 4,769 deals, compared with 244.69 million shares in 3,479 deals recorded on Friday.

Also the total value of trading stood at N2.18 billion in contrast with N1.78 billion at the previous trading. This represents 22.65 per cent increase.

Also, Guaranty Trust Holding Company (GTCO) led the volume chart for the day as it traded 51.89 million shares worth N1.06 billion.

Japaul Gold followed with 21.91 million shares worth N5.7 million.

United Bank for Africa (UBA) sold 19.65 million shares valued at N147.68 million, while Jaiz Bank accounted for 12.55 million shares worth N11.07 million.

International Breweries sold 9.06 million shares valued at N52.26 million

nigeria news(punch)

Olawunmi Ashafa

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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