Stock market dips by 0.71% as Airtel Africa sheds weight

The Nigerian stock market on Friday closed on a bearish note, occasioned by 4.67% loss in the share price of Airtel Africa.

The All Share Index declined by 0.71% to close at 38,921.78 points from the previous close of 39,201.33 points.

The Market Capitalisation declined by 0.71% to N20.279 trillion from the previous close of N20.425 trillion, thereby shedding about N146 billion.

An aggregate of 154.56 million units of shares were traded in 3,467 deals, valued at N2.27 billion.

The Market Breadth closed negative as 14 equities appreciated in their share prices against 20 equities that declined in their share prices.

Percentage Gainers

Veritas Kapita led other gainers with 9.52% growth, closing at N0.23 from the previous close of N0.21.

AIICO Insurance and Japaul Gold among other gainers also grew their share prices by 4.21% and 4.08% respectively.

Percentage Losers

Linkage Assurance led other price decliners as it shed 6.56% of its share price, closing at N0.57 from the previous close of N0.61.

Cadbury, NPF Microfinance Bank and Airtel Africa among other price decliners also shed their share prices by 5.88%, 5.71% and 4.67% respectively.

Volume Drivers

UBA traded about 15.26 million units of its shares in 221 deals, valued at N116.73 million.

GTCO traded about 12.16 million units of its shares in 308 deals valued at N328.58 million.

Linkage Assurance traded about 11.71 million units of its shares in 15 deals, valued at N6.99 million.

Leave a Reply

Your email address will not be published. Required fields are marked *