Market extends downtrend, sheds N127bn

The equity market on Wednesday closed on a bearish note as downtrend extended to four straight sessions.

The All Share Index dropped by 0.42% to settle at 55,490.20 points from the previous close of 55,722.90 points.

The Market Capitalisation declined by 0.42% to close at N30.229 trillion from the previous close of N30.356 trillion, thereby shedding N127 billion.

An aggregate of 181 million units of shares were traded in 3,908 deals, valued at N3.4 billion.

The Market Breadth closed negative as 11 equities appreciated in their share prices against 19 equities that declined in their share prices.

Percentage Gainers

Prestige Assurance led other gainers with 7.89% growth to close at N.41 from the previous close of N0.38.

VERITALS KAPITAL and NGXGROUP also grew their share prices by 5.00% and 4.87% respectively.

Percentage Losers

UCAP, University Press and GLAXOSMITH top the list of price decliners by shedding 9.30%, 7.50% and 7.46% to close the day at N11.70, N1.85 and N6.20 from their previous closes of N12.90, N2.00 and N6.70 respectively.

Volume Drivers

TRANSCORP traded about 20 million units of its shares in 141 deals, valued at about N26.6 million.

GTCO traded about 33.9 million units of its shares in 389 deals, valued at N841.9 million.

Zenith Bank traded about 18.6 million units of its shares in 412 deals, valued at N454.7 million.

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