Stock market sheds N25bn as NGXASI dips by 0.12%

Adebayo Obajemu

The Nigerian stock market on Tuesday closed on a bearish note, occasioned by 1.15 per cent loss in the share price of MTN.

The All Share Index declined by 0.47% to close at 38,802.15 points from the previous close of 38,849.08 points.

The Market Capitalisation declined by 0.12% to close at N20.216 trillion from the previous close of N20.241 trillion, thereby shedding N25 billion.

An aggregate of 243 million units of shares were traded in 4,326 deals, valued at N1.899 billion.

The Market Breadth closed firm as 20 equities appreciated in their share prices against 20 equities that declined in their share prices.

Percentage Gainers

Oando led other gainers with 9.86% growth, closing at N4.79 from the previous close of N4.36.

Champion Breweries, FTN Cocoa and Fidson among other gainers also grew their share prices by 9.00%, 8.89% and 6.73% respectively.

Percentage Losers

UPDC Real Estate Investment Trust led other price decliners as it shed 6.67% of its share price to close at N5.6 from the previous close of N6.00.

Unity Bank, NPF Microfinance Bank and UDPC among other price decliners also shed their share prices by 6.45%, 5.29% and 5.19% respectively.

Volume Drivers

Access Bank traded about 21.77 million units of its shares in 209 deals, valued at N204.44 million.

Wema Bank traded about 21.3 million units of its shares in 89 deals valued at N17.86 million.

UDPC traded about 14.55 million units of its shares in 116 deals, valued at N18.267 million