Stock market extends decline, closes 0.76% lower, Thursday

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Trading activities on the floor of the Nigerian Stock Exchange on Thursday closed in red as the All Share Index declined by 0.76% to close at 31,864.80 points against the previous close of 32,108.92 points on Wednesday.

Market capitalisation dropped by 0.76%, closing at N11.633 from the previous close of N11.722 trillion, thereby shedding N89 billion.

Aggregate Volume of traded stocks grew by 52.34%, closing at 394.25 million units against the previous close of 229 million units.

Value of traded stocks declined by 1.80% to close at N2.45 billion against the previous close of N2.49 billion

Market Breadth

The market breadth closed negative as 10 stocks gained against 21 stocks that declined in share price.

Percentage Gainers

Jaiz Bank tops the percentage gainers’ chart, gaining 7.50% to close at N0.43 from the previous close of N0.40

Japaul Oil, Union Bank and Wema Bank grew 5%, 4.12% and 3.77% respectively among other percentage gainers.

Nestle closed at N1500, gaining 3.45% from the previous close of N1450 on Wednesday.

Percentage Losers

UAC Properties and Meyer both shed 10% of their share prices to close at N1.44 and N0.54 respectively.

International Breweries, C&I Leasing and Cutix Plc also shed 9.99%, 9.92% and 9.29% respectively among other stocks on the losers’ chart.

Volume Drivers

Diamond Bank traded about 208.68 million units of its shares being the highest volume for the day in 338 deals, valued at about N185.36

Stanbic IBTC traded about 15 million units of its shares in 15 deals, valued at N724.72 million.

 

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