Stock market indices decline 0.3%, investors lose 202bn

After a three-day bullish trend, the stock market closed the week on a negative note on Friday, as performance indices dipped by 0.3 per cent.

Specifically, the Nigerian Exchange Ltd. (NGX) market capitalisation dropped by N202 billion, falling to N66,465 trillion from N66.667 trillion on Thursday.

The All-Share Index also declined by 321.65 points or 0.3 per cent to close at 105,752.61 down from 106,074.26 recorded earlier.

The downturn was due to share price depreciation in stocks of Dangote Cement and Transcorp, among others.

In spite of the drop, the market breadth ended positive with 41 gainers against 15 losers.

Ikeja Hotel led the gainers’ chart by 10 per cent, closing at N12.10 per share.

International Breweries also rose by 10 per cent to close at N7.70 per share.

Legend Internet Plc rose by 10 per cent to close at N6.82 per share.

Vitafoam grew by 9.93 per cent, closing at N44.85 per share.

Cadbury gained by 9.92 per cent to close at N26.60 per share.

On the losers’ chart, Dangote Cement dropped by 10 per cent, closing at N432.00 per share.

Regency Alliance Insurance declined by 8.06 per cent to close at 57k per share.

VFD Group fell by 7.57 per cent, closing at N17.10 per share.

CHAMS decreased by 7.27 per cent to close at N2.04 per share.

Sovereign Trust Insurance lost by 6.12 per cent to close at 92k per share.

Investors traded 428.08 million shares worth N20.174 billion across 14,284 transactions.

This is in contrast with 328.26 million shares valued at N10.370 billion exchanged across 12,142 transactions.

Transactions in the shares of Guaranty Trust Holding Company topped the activity chart with 60.735 million shares worth N3.807 billion.

Fidelity Bank followed with 41.407 million shares worth N829 million while Access Corporation transacted 40.556 million valued at N968.26 million.

MTN sold 32.96 million shares worth N8.240 billion and Zenith Bank traded 22.93 million shares valued at N1.054 billion.