Stock market slides 1.06% as major heavyweight stocks see red, Thursday

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Prevailing sell pressures in many large cap stocks like DANGFLOUR which lost 4.98%, NB which lost 4.99%, CAVERTON which lost 5.00%, GUARANTY which lost 1.61% and ZENITH which lost 3.40% drags the Nigerian Stock market to a 1.06% negative close on Thursday.

The All Share Index closed at 39,723.85 points as against 40,150.55 points of the previous trading session, losing 426.70 points.

 

Investors lost about N155b as market capitalisation declines to N14.389 trillion

from N14.544 trillion of the previous trading session.

Other market indices went south as volume and value traded declined by

3.85 percent and 57.15 percent to settle at 256.430 million and N2.002 billion respectively.

 Market breadth

Market breadth closed negative as only 8 stocks closed positive as against 35 stocks that lost.

Percentage Gainers

MRS, Ikeja Hotel and Law Union grew 10.10%, 4.91% and 4.44% respectively ahead of stocks like and Niger Insurance and Consolidated Hallmark Insurance.

Percentage Losers

Diamond Bank tops the losers’ chart losing 8.28% of its share price, while Fidelity and CAVERTON both shed 5.50% and 5.00% respectively.

Zenith bank is the most actively traded stocks, trading about 20.366million units of its shares in 433 deals, worth about N558.306million.

 

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