Stock market sheds N1.423trn, down by 2.49% WtD

Toyin Samuel

The Nigerian stock market last week closed lower as MTN Nigeria, PRESCO and 66 other stocks shed their weight. The All Share Index and Market capitalization dropped by 2.49% to settle at 101,858.37 points and N55.375 trillion respectively.

An aggregate of 2.131 million units of shares were traded in 53,069 deals, valued at N36 billion.

The market breadth closed negative as 20 stocks gained against 68 stocks that declined in their share prices.

TOP 10 GAINERS

Meyer Plc led other gainers in the course of last week with 60.70% growth, closing at N6.91 from the previous close of N4.30.

JULI, GEREGU, Cornerstone Insurance and May & Baker grew their share prices by 44.29%, 19.00%, 17.37% and 11.75% respectively.

Other among the top 10 gainers include: CADBURY 9.50%, MRS 7.14%, Redstar Express 6.94%, DEAPCAP 4.48% and BUAFOODS 3.382 respectively.

TOP 10 LOSERS

Eterna Plc led other price decliners, shedding 18.78% of its share price to close at N17.95 from the previous close of 22.10.

Abbey Mortgage Bank, Unity Bank, Mutual Benefits and Sterling Bank shed 18.39%, 17.79%, 17.57% and 15.45% respectively.

Other price decliners include: PZ (15.11%), Jaiz Bank (14.48%), Fidelity Bank (14.45%), NEIMETH (13.88%) and CHAMS (13.79%) respectively.

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