Stock market declines by 0.25% as 38 stocks shed weight

Nigerian stock market on Monday closed lower as 38 stocks shed weight amidst profit taking.

The All Share Index dropped by 0.25% to close at 153,739.11 points from the previous close of 154,126.45 points.

The Market Capitalisation declined by 0.25% to close at N97.583 trillion from the previous close of N97.829 trillion, thereby shedding N246 billion.

An aggregate of 628 million units of shares were traded in 36,425 deals, valued at N25 billion.

The Market Breadth closed negative as 19 equities emerged as gainers against 38 equities that declined in their share prices.

Percentage Gainers

UNIONDICON led other price decliners as it shed 9.93% of its share price to close at N7.75 from the previous close of N7.05.

OMATEK, OMATEK and International Breweries among other gainers also grew their share prices by 9.92%, 7.62% and 6.36% respectively.

Percentage Losers

Honeywell Flour led other price decliners as it shed 10.00% of its share price to close at N18.00 from the previous close of N20.00.

Northern Nigerian Flourmills and ARADEL among other price decliners also shed their share prices by 9.98% and 9.21% respectively.

Volume Drivers

UBA traded about 137 million units of its shares in 1,020 deals, valued at N5.5 billion.

ASOSAVINGS traded about 108 million units of its shares in 888 deals, valued at N120 million.

ACCESSCORP traded about 68 million units of its shares in 1,855 deals, valued at N1.6 billion.