Market halts 7 straight days of gains, closes lower by 0.38%

The Nigerian stock market Monday admitted the bear, halting 7 consecutive days of gain it recorded last week. This is largely occasioned by drop in the share price of BUA Cement by 2.50%.

The All Share Index declined by 0.38% to close at 40,714 points from the previous close of 40,868.36 points.

The Market Capitalisation declined by 0.38% to close at N21.215 trillion from the previous close of N21.296 trillion, thereby shedding N81 billion.

An aggregate of 191 million units of shares were traded in 4,395 deals, valued at N2.59 billion.

The Market Breadth closed firm as 17 equities emerged as gainers against 17 equities that declined in their share prices.

Percentage Gainers

NEM Insurance led other gainers with 9.95% growth to close at N2.1 from the previous close of N1.91.

Ecobank and Champion Breweries among others both grew their share prices by 9.52% respectively.

Percentage Losers

Sovereign Trust Insurance led other price decliners as it sheds 8.33% of its share price to close at N0.22 from the previous close of N0.24.

Nigerian Breweries and AIICO Insurance among other price decliners also shed their share prices by 6.06% and 5.26% respectively.

Volume Drivers

FBNH traded about 24.15 million units of its shares in 365 deals, valued at N234.25 million.

Ecobank traded about 19.34 million units of its shares in 272 deals, valued at N130.36 million.

Chams Plc traded about 17.697 million units of its shares in 51 deals, valued at N4.23 million.

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