Stock Market Slips Into Red Zone, Wema Bank’s Stock Declines

Stock Exchange Closes Trading Week With N30bn Gain

Trading at the stock market on Friday ended in the red zone, with equity capitalisation closing at N20.82 trillion, a fall from the previous day’s N20.97 trillion.

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At the end of trading activities, the number of shares traded on the floor of the Nigerian Stock Exchange (NSE) appreciated to N507.25 million, from Thursday’s N326.03 million share volume.

Despite the rise in the volume of shares traded, the All-Share Index (ASI) shed some figures to close at 39,799.89 from the 40,095.49 recorded Thursday.

There was also a drop in the number of deals executed by investors, as deals fell to 4,465 from Thursday’s 4,567.

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The value of shares also shrunk from Thursday’s N3.71 billion to close at N2.44 billion on Friday.

Top Gainers

LASACO: Opened at N1.12 kobo percent to close at N1.23 kobo, up 9.82 percent.

Mutual Benefit: Opened at N0.37 to close at N0.4 kobo, up 8.11 percent.

Courtville: Opened at N0.2 kobo to close at N0.21, up 5 percent.

Oando Opened at N3.35 percent to close at N3.45 percent, up 2.99 percent.

NAHCO: Opened at N2.22 kobo to close at N2.28 kobo, up 2.70 percent.

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Top Losers

Wema: Opened at N0.7 kobo to close at N0.63 kobo, down 10 percent.

Champion Brew: Opened at N2.8 kobo to close at N2.52 kobo, down 10 percent.

Sunu Assurance: Opened at N0.73 kobo to close at N0.66 kobo, down 9.59 percent.

Africa Prudential: Opened at N6.1 kobo to close at N5.75 kobo, down 5.74 percent.

Mansard: Opened at N1.12 to close at N1.06 kobo, down 5.36 percent.

Leading the activity chart was Wema Bank with 304.52 million shares with a value of N197.26 million traded.

Following was First Bank with a share volume of 30.75 million with a value of N226.05 million.

Zenith Bank followed with 26.61 million shares valued at N677.40 million.

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