Stock Market Slips by 0.05% as Investors Book Mild Losses

The Nigerian stock market closed negative on Wednesday as renewed sell pressure pushed the All-Share Index (ASI) down by 0.05 percent to 146,862.00 points, compared to the previous day’s 146,940.29 points.

Market capitalisation also dipped by 0.04 percent, closing at N93.625 trillion, down from N93.659 trillion, resulting in a loss of N34 billion for investors.

A total of 747 million shares exchanged hands in 19,161 deals, valued at N12.4 billion.

Despite the slight downturn, market breadth closed positive, with 28 gainers outperforming 23 losers.

Top Gainers

JAPAULGOLD led with a 10.00% rise to close at N2.53, up from N2.30.

PRESTIGE, MECURE, and THE INITIATES also recorded notable gains of 9.40%, 7.72%, and 7.30%, respectively.

Top Losers

CHAMS topped the losers’ chart with a 10.00% decline to close at N3.06, down from N3.40.

HMCALL, UACN, and SUNU Assurance followed with losses of 8.88%, 8.18%, and 6.98%, respectively.

Volume Drivers

CUTIX dominated trading with 123 million shares traded in 215 deals, worth N369 million.

FCMB recorded 81 million shares in 389 deals, valued at N879 million.

CONHALLPLC traded 71 million shares in 44 deals, valued at N286 million.