Stock Market Crashes Further by N42billion

The Nigerian Stock Exchange, NSE, on Wednesday, January 4, maintained a downward trajectory with lead market indices crashing by 0.46 per cent as investors continued to indulge in profit taking.

For the second consecutive trading day, market capitalisation lost N42 billion or 0.46 per cent to close at N9.116 trillion compared with N9.158 trillion recorded on Tuesday.

Likewise, the All-Share Index shed 121.85 points or 0.46 per cent to close at 26,495.04, against 26,616.89 achieved on Tuesday.

An analysis of the price movement table showed that Guaranty Trust Bank topped the losers’ chart, shedding N1.10 to close at N22.90 per share. Lafarge Africa trailed behind with a loss of 95k to close at N40 and Forte Oil was down by 62k to close at N83.60 per share.

Ashaka Cement dropped 59k to close at N11.43, while Ecobank Transnational Incorporated declined by 23k to close at N9.54 per share.

On the flip side, Flour Mills Nigeria led the gainers’ table growing by 49k to close at N18.49 per share.
Zenith Bank followed with a gain of 19k to close at N14.55 and UAC Property rose by 13k to close at N2.88 per share. Vitafoam soared by 12k to close at N2.54 and Africa Prudential Registrars garnered 9k to close at N3 per share.

Unity Kapital maintained its spot as the most traded in volume terms with a total of 435.96 million shares worth N335.69 million. Omoluabi Savings and Loans followed with 104.00 million shares valued at N83.30 million, while UBA accounted for 9.23 million shares worth N41.67 million.

United Capital sold 6.71 million shares valued at N19.43 million and GT Bank traded 5.21 million shares worth N120.62 million.

The volume of shares traded closed lower with an exchange of 602.05 million shares valued at N1.20 billion transacted in 2,150 deals. This was against the 3.37 billion shares worth N3.76 billion traded in 2,033 deals on Tuesday.

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