Stock market closes lower by 0.75%, sheds N113bn

Trading activities on the floor of the Nigerian Stock Exchange on Wednesday closed on a negative as the All Share Index declined by 0.75% to settle at 28,449.49 points from the previous close of 28,665.82 points.

Market Capitalisation dropped by 0.75% to close at N14.870 trillion from the previous close of N14.983 trillion, thereby shedding N113 billion.

An aggregate of 326.58 million units of shares were traded in 4,367 deals, valued at N4.22 billion.

Market Breadth

The market breadth closed positive as 4 stocks gained against 34 that declined in their share prices.

Percentage Gainers

Wapic Insurance led 3 other gainers with 10% growth to close at N0.44 from the previous close of N0.40.

Portland Paint, UAC Property and Nigerian Breweries also grew their share prices by 2.50%, 1.23% and 0.97% respectively.

Percentage Losers

Royal Exchange Assurance led other price decliners as it shed 8.00% of its share price to close at N0.23 from the previous close of N0.25.

Neimeth, Union Diagnostics and LASACO among other price decliners also shed their share prices by 7.57%, 7.41% and 7.14% respectively.

Volume Drivers

UBA traded about 39.59 million units of its shares in 304 deals, valued at about N267.5 million.

Zenith Bank traded about 38.54 million units of its shares in 522 deals, valued at about N778.8 million.

Transcorp traded about 31.18 million units of its shares in 82 deals, valued at N18.7 million.

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