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Stock market dips by 0.53% as 24 stocks shed weight

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The stock market on Monday closed on a bearish note, occasioned by profit taking in 24 stocks.

The All Share Index dipped by 0.53% to close at 97,709.38 points from the previous close of 98,233.76 points.

The Market Capitalisation closed at N55.265 trillion, down by 0.53% from the previous close of N55.562 trillion, thereby shedding N297 billion.

An aggregate of 439 million units of shares were traded in 8,607 deals, valued at N11 billion.

The Market Breadth closed negative as 19 equities emerged as gainers against 24 equities that declined in their share prices.

Percentage Gainers

THE INITIATES and TANTALIZER led other gainers with 8.70% growth each, closing at N2.50 and N0.50 from N2.30 and N0.46 respectively.

Sterling Bank and Ikeja Hotel among other gainers also grew their share prices by 5.38% and 5.37% respectively.

Percentage Losers

SEPLAT led other price decliners shedding 10.00% of its share price to close at N2,962.30 from the previous close of N3,291.40.

PZ, ETRANZACT and Unity Bank dropped their share prices by 9.91%, 9.68% and 8.20% respectively.

Volume Drivers

NOTORE traded about 74 million units of its shares in 1 deal, valued at N4.65 billion.

ACCESSCORP traded about 43 million units of its shares in 832 deals, valued at N749.9 million.

UBA traded about 37 million units of its shares in 654 deals, valued at N903 million.

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