Stock market closes lower by 0.09% on profit taking

The Nigerian stock market on Wednesday closed on a bearish note as the All Share Index depreciated by 0.09% to close at 39,184.18 points from the previous close of 39,219.61 points. The market closed the month of August on a positive note as it grew by 1.74%. However, year to date, the market returned -2.70%.

The Market Capitalisation declined by 0.09% to close at N20.416 trillion from the previous close of N20.434 trillion, thereby shedding N18 billion.

An aggregate of 169.3 million units of shares were traded in 3,449 deals, valued at N1.42 billion.

The Market Breadth closed negative as 9 equities appreciated in their share prices against 17 equities that declined in their share prices.

Percentage Gainers

AIICO Insurance led other gainers with 4.04% growth, closing at N1.03 from the previous close of N0.99.

Custodian Investment, Fidson and Fidelity Bank among other gainers also grew their share prices by 3.15%, 2.80% and 2.55% respectively.

Percentage Losers

FTN Cocoa led other price decliners as it shed 8.77% of its share price, closing at N0.52 from the previous close of N0.57.

Morison and UPDC among other price decliners also shed their share prices by 5.42% and 4.84% respectively.

Volume Drivers

Transcorp traded about 28.54 million units of its shares in 124 deals, valued at N25.76 million.

Zenith Bank traded about 16.59 million units of its shares in 327 deals valued at N398.2 million.

Honeywell Flour traded about 13.23 million units of its shares in 298 deals, valued at N54.95 million.

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