Stock market dips, recording 250.92m shares in negative trading

Chris Ndibe

The Nigerian Stock Exchange on Friday moved 250.92 million shares valued at N2.79 billion in 3,746 deals in a negative trading.

The volume of shares traded improved by 9.37 per cent when compared with 229.42 million shares worth N3.78 billion transacted in 4,016 on Thursday.

An analysis of the activity chart shows that

Union Bank of Nigeria was the most active, trading 79.23 million shares valued at N419.90 million.

Zenith Bank trailed with an account of 21.01 million shares worth N462 million, while Guaranty Trust Bank sold 19.79 million shares valued at N619.62 million.

Guinness Nigeria accounted for 12.56 million shares N372.08 million, while United Bank for Africa exchanged 10.28 million shares valued at N69.95 million.

Meanwhile, the market capitalisation declined by N40 billion or 0.20 per cent to N20.518 trillion from N20.558 trillion recorded on Thursday.

Also, the All-Share Index lost 76.94 basis points or 0.20 per cent to close at 39,216.20 points compared with 39,293.14 posted on Thursday.

FTN Cocoa topped the losers’ chart, dropping by 9.80 per cent to close at 46k per share.

Jaiz Bank trailed with a loss of 9.23 per cent to close at 59k, while Royal Express dipped 7.69 per cent to close at 24k per share.

Wapic Insurance lost 7.27 per cent to close at 51k, while Africa Insurance shed 4.76 per cent to close at 20k per share.

On the other hand, Guinness led the gainers’ table in percentage terms, gaining 9.89 per cent to close at N30 per share.

Prestige Insurance followed with 9.76 per cent to close at 45k, while Sovereign Trust Insurance added 9.09 per cent to close at 24k per share.

UACN gained 8.75 per cent to close at N8.70, while ABC Transport gained 7.14 per cent to close at 30k per share.