Stock market dips by 0.05% as 18 stocks shed weight

The stock market on Friday closed on a bearish note, occasioned by profit taking in 18 stocks.

The All Share Index declined by 0.05% to close at 55,794.51 points from the previous close of 55,822.14 points.

The Market Capitalisation closed at N30.395 trillion, down by 0.05% from the previous close of N30.409 trillion, thereby shedding N14 billion.

An aggregate of 276 million units of shares were traded in 3,467 deals, valued at N8.59 billion.

The Market Breadth closed negative as 9 equities emerged as gainers against 18 equities that declined in their share prices.    

Percentage Gainers

NCR Plc led other gainers with 9.89% growth, closing at N2.89 from N2.63 it closed last Thursday.

MGXGROUP and ARDOVA among other gainers also grew their share prices by 7.25% and 6.90% respectively.

Percentage Losers

Conoil led other price decliners, shedding 9.95% of its share price to close at N38.00 from the previous close of 42.20.

CAVERTON, Champion Breweries and Honeywell flour dropped their share prices by 9.65%, 8.00% and 3.93% respectively.

Volume Drivers

TRANSCORP traded about 87 million units of its shares in 200 deals, valued at N119.9 million.

BUACEMENT traded about 70.9 million units of its shares in 47 deals, valued at N7 billion.

UBA traded about 13.8 million units of its shares in 161 deals, valued at N115 million.

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