Stock market dips further as 25 stocks shed weight

The stock market on Thursday closed on a bearish note, occasioned by profit taking in 25 stocks.

The All Share Index declined by 1.04% to close at 54,915.61 points from the previous close of 55,490.20 points.

The Market Capitalisation closed at N29.916 trillion, down by 1.04% from the previous close of N30.229 trillion, thereby shedding N313 billion.

An aggregate of 137 million units of shares were traded in 3,489 deals, valued at N1.5 billion.

The Market Breadth closed negative as 8 equities emerged as gainers against 25 equities that declined in their share prices.    

Percentage Gainers

CHAMS led other gainers with 8.70% growth, closing at N0.25 from N0.23 it closed on Wednesday.

University Press and Living Trust Insurance among other gainers also grew their share prices by 7.57% and 3.37% respectively.

Percentage Losers

Ecobank led other price decliners, shedding 10.00% of its share price to close at N10.80 from the previous close of 12.00.

IMG, Royal Exchange and RTBRISCOE dropped their share prices by 9.32%, 8.22% and 7.69% respectively.

Volume Drivers

TRANSCORP traded about 26 million units of its shares in 113 deals, valued at N34 million.

Zenith Bank traded about 14.7 million units of its shares in 408 deals, valued at N353.9 million.

UBA traded about 10 million units of its shares in 139 deals, valued at N81 million.

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