Nigerian Market sheds weight closes lower by 1.20%

The equity market on Wednesday closed on a bearish note as the All Share Index dipped by 1.20% to settle at 98,121.30 points from the previous close of 99,311.54 points.

The Market Capitalisation declined by 1.20% to close at N55.494 trillion from the previous close of N56.167 trillion, thereby shedding N673 billion.

An aggregate of 395.8 million units of shares were traded in 7,907 deals, valued at N9.58 billion.

The Market Breadth closed positive as 22 equities appreciated in their share prices against 19 equities that declined in their share prices.

Percentage Gainers

NEMETH, THE INITIATE and Sunu Assurance led other gainers with 10.00% growth each to close at N1.98, N1.98 and N1.21 above their previous close respectively.

CAP and UPDC among other gainers also grew their share prices by 9.90% and 9.76% respectively.

Percentage Losers

NTM Nigeria and Transcorp Hotel led other price decliners, as they shed 10.00% each of their share prices to close at N201.60 and N87.93 from the previous close of N224.00 and N97.70.

OANDO, FBNH and FIDSON among other price decliners also shed their share prices by 9.90%, 9.82% and 9.75% respectively.

Volume Drivers

GTCO traded about 81 million units of its shares in 444 deals, valued at about N2.9 billion.

Zenith Bank traded about 46 million units of its shares in 560 deal, valued at N1.69 billion.

UBA traded about 41.6 million units of its shares in 717 deals, valued at N953.5 million.

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