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Home Economy/Technology

Stock market records another loss as all-Share index down 1.30%

Stock

The Matters Press by The Matters Press
February 21, 2024
Reading Time: 2 mins read
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Trading in Nigerian stock market dips further N83bn

Lagos, Feb. 21, 2024: The domestic bourse on Tuesday extended losses from its previous session, bringing the All-Share Index down by 1.30 per cent or 1,333 points to close at 101,060.67.

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This is against 102,393.23 recorded on Monday.

Bearish sentiment in BUA Cement, Zenith Bank and Guaranty Trust Holding Company (GTCO) brought the market further to a negative terrain.

Consequently, investors lost N730 billion, as the Nigerian Exchange Ltd (NGX) market capitalisation which opened at N56.028 trillion closed at N55.298 trillion.

As a result the Year-To-Date (YTD) return fell to 35.16 per cent.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 10.90 per cent.

A total of 256.16 million shares valued at N6.63 billion were exchanged in 8,783 deals, compared to 273.85 million shares valued at N7.44 billion exchanged in 9,688 deals posted in previous session.

On the laggards’ table, Honeywell Flour Mills led in percentage terms of 10 to close at N3.60, BUA Cement followed closely by 9.98 per cent to close at N142.95 per share.

PZ Cusson Nigeria trailed by 9.75 per cent to close at N27.30, UPDC Real Estate Investment Trust lost 9.32 per cent to close at N5.35, while NEM Insurance shed 8.63 per cent to close at N6.35 per share.

Conversely, Juli Plc led the gainers table by 9.94 per cent to close at N1.77, while Eterna Plc rose by 6.17 per cent to close at N17.20 per share.

Veritas Kapital also gained N5.97 per cent to close at 71k, Geregu garnered 3.68 per cent to close at N985 and Tantalizers grew by 2.63 per cent to close at 39k per share.

Meanwhile, Transcorp led the activity table with 39.75 million shares valued at N529 million, United Bank of Africa (UBA) sold 26.03 million shares worth N625 million.

Fidelity traded 25.48 million shares valued at N271 million, Zenith Bank sold 21.1 million shares worth N751 million and GTCO transacted 13.80 million shares valued at N535.51 million.

Market breadth closed negative with 42 declining issues outnumbering six advancing ones.

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