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Home Economy/Technology

Stock market drops by N95bn

Stock

The Matters Press by The Matters Press
August 20, 2022
Reading Time: 2 mins read
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Trading in Nigerian stock market dips further N83bn

The nation’s bourse on Friday recorded loses, bringing the benchmark Index down by 0.35 per cent to close at 49,370.62 points.

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All-share Index (ASI) lost 0.35 per cent from 49,546.38 basis points to close at 49,370.62 basis point recorded on Thursday.

The negative performance was driven by selloffs in Access Bank Holdings, First City Monument Bank (FCMB) and WAPCO.

In the same vein, the market capitalisation also lost 95 billion or 0.35 per cent to close at N26.628 trillion compared to N26.723 trillion recorded the previous day.

The market recorded a Year-to-Date (YtD) gain of 15.58 per cent

NGX Banking, Consumer Goods and Insurance indexes gained 0.23 per cent 0.06 per cent and 0.13 per cent respectively.

NGX Industrial and Oil & Gas indexes lost 0.32 per cent and 0.15 per cent respectively.

However, market breath was negative no as 14 stocks gained and 15 declined.

Jaiz Bank led the gainers’ chart in percentage terms by 5.95 er cent to close at 89k per share.

Aiico Insurance followed with a gain 3.64 per cent to close at 57k while Academy Press rose by 1.96 per cent to close at N2.08 per share.

Dangote Sugar also went up by 1.88 per cent each to close at N16.30 per share.

UPDCredit also went up by 1.56 per cent each to close at N3.25 per share.

On the other hand, University Press led the losers’ chart in percentage terms by 9.95 per cent to close at N1.72 per share.

Industrial & Medical Gases shed 9.7 per cent to close at N7.45 per share.

Japaul Gold and Ventures also lost 9.38 per cent to close at 29k per share, while Honeywell Flour Mill lost 8.34 per cent to close at N2.42 per share.

Chams declined by 7.41 per cent to close at 25k per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions reducing by 19.21 per cent.

A total of 132,23 million units of shares valued at N1.63 billion in 3,045 deals.

Transactions in the shares of First Bank of Nigeria Holdings (FBNH) topped the most volume chart with 37.8 million shares valued N426.8 million.

Access Bank followed with 15.4 million shares worth N429.28 million, while United Bank for Africa traded 9.28 million shares valued N149.67 million.

Guaranty Trust Holding traded 8.92 millions hares valued N153.13 million.

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