Stock market sheds N516bn, returns -1.40% WtD on profit taking

Toyin Samuel

Trading on the floor of the Nigerian Exchange last week closed bearish as 47 stocks closed the week lower on profit taking.

The All Share Index and Market capitalization declined by 1.40% to settle at 66,382.14 points and N36.331 trillion respectively.

An aggregate of 1.34 billion units of shares were traded in 27,874 deals, valued at N17.9 billion.

The market breadth closed negative as 25 stocks gained against 47 stocks that declined in their share prices.


CWG led other gainers in the course of last week with 30.41% growth, closing at N60.90 from the previous close of N46.70.

GEREGU, Honeywell Flour, FCMB and NGXGROUP grew their share prices by 30.00%, 23.57%, 20.00% and 17.52% respectively.

Still on the gainers’ chart: TRANSCORP 16.67%, Nigerian Breweries 13.64%, JOHNHOLT 9.86%, UNILEVER 8.46% and Standard Alliance Insurance 8.44% respectively.


UACN led other price decliners, shedding 33.76% of its share price to close at N7.85 from the previous close of N11.85.

 Capital Hotel, UPDCREIT, NNFM and Linkage Assurance shed their share prices by 19.68%,

14.29%, 13.64% and 11.08% respectively.

Other price decliners include: CAVERTON (10.83%), JULI (10.30%), Fidelity Bank (9.99%), Mutual Benefits (9.96%) and JAPAULGOLD (9.92%) respectively.

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