Market Sheds 0.18%, As Large-capped Stocks Lose Value

BY: SAYO AKINTOLA

Trading activities on the Nigerian stock exchange decreased by 38% on Thursday as investors bought 673.97 million shares worth N8.08 billion, in 4,894.00 deals, compared to 1.08 billion shares worth N8.08 billion, in 4,894.00 deals exchanged on Tuesday. Multiverse Plc, Skye Bank Plc and First Bank Plc were the most actively traded stocks on the exchange today in terms of volume, while Zenith Bank Plc and Guaranty Trust Bank Plc, topped in terms of value.

The Nigerian Stock Exchanges-All Share Index depreciated by 0.18% (-74.54) to close at 41,135.56 from 41,210.10 attained on Tuesday. Market capitalisation also decreased to N13.58 trillion from N13.61 trillion the previous trading day. The BGL 50 Index also followed suit with a 0.24% loss to close at 177.62 from 178.05, while the market cap stood at N12.81 trillion from N12.84 trillion recorded on Tuesday.

A total number of 30 stocks gained on the bourse today while 25 stocks declined leaving 57 stocks unchanged. Honeywell Flour Plc emerged the toast of investors as it appreciated by 4.86% to close at N4.10 kobo, followed by Fidelity Bank Plc. with a 4.52% gain to close at N2.08. Others on the gainers chart include Stanbic IBTC Bank Plc, Continental Reinsurance Plc and Nahco Plc.

On the flip side PZ Cussons plc topped the losers chart with 5.00% decline to close at N33.25 followed by Guinness Nigeria Plc which declined by 5.00% to close at N204.24 kobo. Others on the losers table include; Custodian & Allied Insurance. Plc, Nascon Plc and Nestle Plc.

Author: News Editor

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