Stock market dips by 0.38% as MTN and other 24 stocks shed weight

The Nigerian Stock market on Thursday closed on a bearish note occasioned by decline in share value of MTN Nigeria, NESTLE and other 23 stocks.

The All Share Index dipped by 0.38% to close at 67,098.80 points from the previous close of 67,353.23 points.

The Market Capitalisation declined by 0.38% to close at N36.864 trillion from the previous close of N37.004 trillion, thereby shedding N140 billion.

An aggregate of 298.7 million units of shares were traded in 5,453 deals, valued at N4.48 billion.

The Market Breadth closed negative as 16 equities emerged as gainers against 25 equities that declined in their share prices.

Percentage Gainers

LEARNAFRICA led other gainers with 10.00% growth to close at N3.30 from the previous close of N3.00.

DAAR Communication and UPDC among other gainers also grew there share prices by 9.52% and 8.00% respectively.

Percentage Losers

MCNICHOLS led other price decliners as it shed 8.82% of its share price to close at N0.62 from the previous close of N0.68.

OMATEK and STANBIC IBTC among other price decliners also shed 8.70% and 8.49% of their share prices respectively.

Volume Drivers

UBA traded about 56.3 million units of its shares in 352 deals, valued at N1 billion.

Fidelity Bank traded about 33.8 million units of its shares in 188 deals, valued at N282 million.

ACCESSCORP traded about 22 million units of its shares in 363 deals, valued at N364 million.

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