The Nigerian stock market on Wednesday closed on a bearish note, occasioned by 10% drop in the share price BUA Cement.
The All Share Index declined by 1.08% to close at 41,807.10 points from the previous close of 42,262.85 points.
The Market Capitalisation declined by 1.08% to close at N21.822 trillion from the previous close of N22.060 trillion, thereby shedding N238 billion.
An aggregate of 180.18 million units of shares were traded in 3,828 deals, valued at N1.48 billion.
The Market Breadth closed positive as 17 equities emerged as gainers against 16 equities that declined in their share prices.
Percentage Gainers
Union Bank led other gainers with 9.91% growth to close at N6.1 from the previous close of N5.55.
Royal Exchange and Sovereign Trust Insurance among other gainers also grew their share prices by 9.09% and 7.69% respectively.
Percentage Losers
BUA Cement led other price decliners as it shed 10% of its share price to close at N67.05 from the previous close of N74.50.
May & Baker and PZ among other price decliners also shed their share prices by 9.98% and 8.96% respectively.
Volume Drivers
Jaiz Bank traded about 17.65 million units of its shares in 89 deals, valued at N10.53 million.
Union Bank traded about 16.80 million units of its shares in 296 deals, valued at N101.83 million.
UACN traded about 12.88 million units of its shares in 28 deals, valued at N123.52 million.