Opening the holiday shortened week, activity on the Nigerian stock market commenced trading yesterday on a decline with N90 billion loss.
The All – Share Index (ASI) decreased by 167.16 absolute points, representing a dip of 0.32 per cent to close at 51,390.25 points. Similarly, the market capitalisation lost N90 billion to close at N27.713 trillion
The downturn was impacted by losses record in medium and large capitalised stocks, amongst which are; Nigerian Aviation Handling Company (NAHCO), Red Star Express, Multiverse Mining and Exploration, Cutix and Access Holdings.
On market outlook, United Capital Plc said, “Equity market begins the week negative, as bargain hunting trailed the market. We expect cautious trading to continue throughout the week.”
The market breadth closed negative, with 25 losers versus 11 gainers. Computer Warehouse Group (CWG) recorded the highest price gain of 10 per cent, to close at 88 kobo, per share. Caverton Offshore Support Group followed with a gain 9.84 per cent to close at N1.34, while Academy Press appreciated by 9.52 per cent to close at N2.07, per share.
R.T. Briscoe Nigeria went up by 8.82 per cent to close at 37 kobo, while International Breweries appreciated by 7.41 per cent to close at N5.80 per share.
On the other hand, Multiverse Mining and Exploration led the losers’ chart by 10 per cent, to close at N1.89, per share. Red Star Express followed with a decline of 9.82 per cent to close at N2.48, while Cutix went down by 8.33 to close at N2.20, per share.
Unity Bank lost 8.16 per cent to close at 45 kobo, while Livestock Feeds shed 7.97 per cent to close at N1.27, per share.
However, the total volume of trades increased by 72.7 per cent to 198.816 million units, valued at N2.182 billion, and exchanged in 4,769 deals.
Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 51.893 million shares valued at N1.062 billion. Japaul Gold and Ventures followed with 21.911 million shares worth N5.698 million, while United Bank for Africa (UBA) traded 19.646 million shares valued at N147.683 million.
Jaiz Bank traded 12.546 million shares valued at N11.073 million, while International Breweries transacted 9.059 million shares worth N52.261 million.
