The Nigerian stock market has lost a total of N59.3 billion this week. The market which has closed on a negative note since Monday has taken market capitalization which opened on Monday at N9.074 trillion down by 0.65 percent to close Thursday’s trading at N9.015 trillion.
An analysis of the market’s performance on Thursday shows that the All Share Index dropped 0.17 and closed at 26,201.60 points compared to previous closing figure of 26,245.34
Market performance measured by volume and value traded closed mixed as investors exchanged 196.5 million units of shares, 50 percent lower than 394.8 million units traded previously. Value of equities traded however rose by 89.5 percent as investors moved equities worth N2.611 billion on Thursday.
The day’s transactions were carried out in 3,317 deals, 10 percent higher than previous session’s 3,015 deals
Consequently, market breadth improved to stay flat at 19 gainers against 19 losers
UAC-Prop led on the gainers table by 4.96 percent to close at N2.75, Cutix followed with an increase of 4.83 percent to close at N1.52, Continental Reinsurance added 4.46 percent to close at N1.17, Dangote Sugar grew 4.44 percent to close at N6.35, and ETI appreciated 4.23 percent to close at N10.10.
On the other hand, Diamond Bank led the day’s declining stocks, with 8.40 percent to close at N1.09, Berger paints dropped 5.00 percent to close at N6.08, Vitafoam depreciated 4.62 percent to close at N2.27 and Transcorp dropped 3.45 percent to close at 84 kobo.
Access Bank topped the activity chart for the day, with the sale of 31.99 million units of shares worth N224.1 billion. Damond Bank followed with 28.4 million shares worth N31.5 million, while UCAP emerged the third most traded stock for the day with 24.1 million shares amounting to N80.9 million. Okomuoil came fourth having traded 19.7 million units of shares valued at N869.4 million while Transcorp was fifth with 11.9 million shares worth N10.2 million.