Stock Market Falls Further Into Bear Territory

Stock Exchange Closes Trading Week With N30bn Gain

Trading activities ended on Wednesday negatively, as the stock market capitalisation declined, with ASI dropping by 0.57 percent.

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The equity capitalisation stood at N20.42 trillion, a slight decline from Tuesday’s N20.54 trillion.

The All-Share Index (ASI) was not spared, falling to 39,045.13, a decline from Tuesday’s 39,267.11.

The volume of shares saw a rise from Tuesday’s 336.12 million to 347.17 million recorded on Wednesday.

Deals traded on the stock exchange floor stood at 3,999 against Tuesday’s 4,394.

Share values fell to N2.80 billion against Tuesday’s N3.26 billion.

Top Gainers

LINKASSURE: Opened at N0.6 kobo to close at N0.66 kobo, up 10 percent.

PRESTIGE: Opened at N0.41 kobo to close at N0.45 kobo, up 9.76 percent.

MEYER: Opened at N0.41 kobo to close at N0.45 kobo, up 9.76 percent.

NEM: Opened at N2.1 kobo to close at N2.3 kobo, up 9.52 percent.

GUINNESS: Opened at N31.6 kobo to close at N33.9 kobo, up 7.28 percent.

READ ALSO: Insurance Contributes Less Than 1% To Nigeria’s GDP – Bankole Banjo

Top Losers

DAARCOMM: Opened at N0.23 kobo to close at N0.21 kobo, down 8.70 percent.

WEMABANK: Opened at N0.62 kobo to close at N0.57 kobo, down 8.06 percent.

UPL: Opened at N1.16 kobo to close at N1.07 kobo, down 8.06 percent.

UAC-PROP: Opened at N0.83 kobo to close at N0.77 kobo, down 7.23 percent.

JAPAULGOLD: Opened at N0.44 kobo to close at N0.41 kobo, down 6.82 percent.

Leading the activity chart was WEMABANK with 94.04 million shares with a value of N53.37 million traded by investors.

UBN follows with 78.90 million shares valued at N418.21 million.

Following was ZENITHBANK with a share volume of 22.13 million with a value of N500.20 million.

Others are FBNH with shares of 11.98 million worth N87.14 million and GUARANTY with shares of 10.71 million worth N352.66 million.