Stock market halts 4-day rally, closes lower by 0.32%

The Nigerian stock market on Thursday admitted the Bear, halting 4 straight days of gains, occasioned by 1.75% drop in the share price of MTN.

The All Share Index depreciated by 0.32% to close at 38,801.51 points from the previous close of 38,927.83 points.

The Market Capitalisation declined by 0.33% to close at N20.216 trillion from the previous close of N20.282 trillion, thereby shedding N66 billion.

An aggregate of 139.78 million units of shares were traded in 3,655 deals, valued at N1.41 billion.

The Market Breadth positive as 18 equities appreciated in their share prices against 16 equities that declined in their share prices.

Percentage Gainers

Conoil Plc led other gainers with 10% growth, closing at N20.35 from the previous close of N18.50.

Consolidated Hallmark Insurance, Sovereign Trust Insurance and Regency Assurance among other gainers also grew their share prices by 8.93%, 7.69% and 7.14% respectively.

Percentage Losers

Ardova led other price decliners as it shed 6.25% of its share price, closing at N15 from the previous close of N16.

Veritas Kapital and AIICO Insurance among other price decliners also shed their share prices by 4.00% and 2.06% respectively.

Volume Drivers

UBA traded about 16.43 million units of its shares in 165 deals, valued at N123.55 million.

GTCO traded 13 million units of its shares in 450 deals valued at N364.85 million.

Zenith Bank traded about 11.94 million units of its shares in 276 deals, valued at N291.55 million.

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