Nigerian stock market sheds more weight, closes 1.02% lower

The Nigerian equities market on Tuesday closed 1.02% lower as the All Share Index sheds more points to close at 31,313.36 points against the previous close of 31,636.66 points on Monday. Consequently, the Market capitalisation shed N121 billion to close at N11.677 trillion against the previous close of N11.798 trillion.

Aggregate volume and value of traded stocks closed at 219.37 million units and N2.93 billion respectively in 3,345 deals.

Market Breadth

The market breadth closed negative as only 8 eight stocks gained while 30 stocks lost.

Percentage Gainers

Law Union & Rock Insurance with 7.69% to close at N0.56 from the previous close of 0.52.

UAC Property, United Capital (UCAP), and WAPCO also grew their share prices by 7.14%, 4.13% and 4.00% respectively.

Other gainers include AIICO Insurance, Africa Prudential Plc, Union Bank and Transcorp, gaining 2.82%, 2.50%, 1.45% and 0.79% respectively.


Percentage Losers

International Breweries tops the losers’ table, shedding 9.93% of its share price to close at N24.05 against the previous close of 26.70.

This is followed by UPDC Real Estate Investment Trust, AG Leventis and Jaiz Bank, shedding 9.24%, 8.82% and 8.62% of their share prices respectively.

Volume Drivers

  • First Bank of Nigeria Holdings (FBNH) traded about 60 million units of its shares in 296 deals, valued at about N493 million.
  • Zenith Bank traded about 46 million units of its shares in 325 deals, valued at about N1.05 billion.

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