Market dips by 1.24% as Airtel Africa sheds weight

The equity market on Friday closed on a bearish note occasioned by loss in the share price of Airtel Africa by 9.99%.

The All Share Index declined by 1.24% to settle at 37,994.19 points from the previous close of 38,469.87 points. The Market Capitalisation declined by 1.23% to close at N19.796 trillion from the previous close of N20.043 trillion, thereby shedding N247 billion.

An aggregate of 241.839 million units of shares were traded in 3,819 deals, valued at N2.71 billion.

The Market Breadth closed negative as 20 equities appreciated in their share prices against 21 equities that declined in their share prices.

Percentage Gainers

FTN Cocoa led other gainers with 9.68% growth, closing at N0.34 from the previous close of N0.31.

John Holts and Unity Bank among other gainers also grew their share prices by 8.96% and 7.27% respectively.

Percentage Losers

Airtel Africa led other price decliners as it shed 9.99% of its share price to close at N601 from the previous close of N667.7.

NAHCO and NEM Insurance among other price decliners also shed their share prices by 9.65% and 9.09% respectively.

Volume Drivers

Guaranty Trust Holdings traded about 30.97 million units of its shares in 292 deals, valued at N909.73 million.

Courtville Business Solution traded about 22.18 million units of its shares in 34 deals valued at N4.84 million.

Chams Plc traded 12 million units of its shares in 24 deals, valued at N2.4 million.

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