Stock Market: Bearish Trend Sustained As Index Declines 2.78%

Trading activities on the Nigerian stock exchange increased by 84.58% as investors bought 481.74 million shares worth N6.21 billion, in 3,819 deals, compared to 261.05 million shares worth N3.29 billion, in 4,108 deals exchanged on Tuesday. Fidelity Bank Plc, GTB Plc and Custodian and Allied Insurance Plc were the most actively traded stocks on the exchange today in terms of volume, while Nigerian Breweries Plc and GTB Plc topped in value terms.

The Nigerian Stock Exchanges-All Share Index depreciated by 2.78% (-827.92) to close at 28,961.67 from 29,789.59 attained on Tuesday. Market capitalisation also decreased to N9.56 trillion from N9.83 trillion the previous trading day. The Thisday BGL 50 Index also followed suit with a 3.13% decline to close at 122.46 from 126.41, while the market capitalisation stood at N8.86 trillion from N9.38 trillion recorded on Tuesday.
Arunma Oteh
A total number of 10 stocks gained on the bourse today while 49 stocks declined leaving 53 stocks unchanged. Beta Glass co Plc. emerged the toast of investors as it appreciated by 5.00% to close at N26.46, followed by E-Tranzact International Plc with a 5.00% gain also to close at N2.94. Others on the gainers chart include; 7-up Bottling Company Plc, Wema Bank Plc, and Omoluabi Savings and Loans Plc. On the flip side Flours Mills Nigeria Plc. topped the losers chart with a 9.72% decline to close at N35.25, closely followed by P Z Cussons Plc., which declined by 9.71% to close at N27.79 kobo. Others on the losers table include; Presco Plc, Champion Brew. Plc and Airline services and logistics Plc.

Topping the chart amongst the BGL 50 stocks is 7-up Bottling Company Plc, which emerged the toast of investors as it appreciated by 4.48% to close at N166.700 kobo, followed by Fcmb Group Plc with a 1.40% gain to close at N2.89 kobo. Others on the gainers chart include; Continental Reinsurance Plc, Wapic Insurance Plc, and Custodian and Allied Insurance Plc. On the flip side Flour Mills Nigeria Plc topped the losers chart with 9.72% decline to close at N35.65 followed closely by PZ Cussons Plc, which declined by 9.71% to close at N27.79 kobo. Others on the losers table include; Presco Plc, Lafarge Africa Plc and Access Bank Plc.

Author: News Editor

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