Stock market slides 1.29% as major heavyweight stocks see red, Thursday

The Nigerian Bourse on Thursday extends decline as the All Share Index drops further by 1.29%, closing at 34,617.12 points away from the previous close of 35,074.82 points on Wednesday.

Market capitalisation closed at N12.638 trillion, declining by 1.29% from the previous close of N12.805 trillion

Volume and value of traded stocks appreciated by 13.49% and 6.47%, closing at 237.81 million units  and N3.09 billion respectively.

Market Breadth

16 stocks gained while 29 stocks lost bringing the market breadth to a negative round off.

Percentage Gainers

Equity Assurance led other percentage gainers, closing 10% above its previous close of N0.20 to close at N0.22

Portland Paint, Linkage Assurance and Oando also grew 9.78%, 8.82%  and 8.79% ahead other stocks on the gainers’ chart.

Percentage Losers

Air Service led the losers’ chart, shedding 10% of its share price to close at N4.05 from the previous close of N4.5.

Neimeth, Skye Bank, Continental Reinsurance and Regency Alliance also shed 9.59%, 8.77%, 8.50% and 8.33% respectively among others on the losers’ chart.

Volume Drivers

Guaranty Trust Bank traded about 23.46 million units of its shares in 165 deals, valued at N892.37 million.

Zenith Bank also traded about 17.37 million units of its shares in 313 deals, valued at N398.38 million





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