Nigerian stock market declines further, closes 0.49% lower

Trading activities on the floor of the Nigerian Stock Exchange on Tuesday closed in red as the All Share Index drops further by 0.49% to close at 28,200.88 points against the previous close of 28,341.03 points on Monday.

Market capitalisation closed at N13.744 trillion, shedding N68 billion from the previous close of N13.812 trillion.

Aggregate volume of traded stocks for the day was 217.13 million units, valued at N1.8 billion in 3,595 deals.

Market Breadth

The market breadth closed negative as 10 stocks gained while 21 stocks lost.

Percentage Gainers

Red Star Express with 9.81% growth led other gainers to close at N5.71 from the previous close of N5.20.

This is followed by LASACO Assurance which grew its share price by 9.68% to close at N0.34 from the previous close of N0.31.

Others on the gainers list are NEM Insurance, Nestle, Guaranty Trust Bank, PZ, Africa Prudential Plc, FCMB, Nigerian Breweries and Dangote Cement Plc.

Percentage Losers

CAP Plc and Cement Company of Northern Nigeria (CCNN) led the price decliners, both shedding 10% of their share prices respectively.

Okumu Oil, Forte Oil and Flour Mills of Nigeria among other price decliners also shed their share prices by 9.93%, 9.90% and 9.88% respectively.

Volume Drivers

First Bank of Nigeria Holdings (FBNH) traded about 46.76 million units of its shares in 243 deals, valued at N266.24 million.

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