The Nigerian stock market extended its negative performance on Thursday, as
investors’ wealth declined by N958 billion on sustained profit-taking across key
medium and large capitalization stocks.
Market capitalization fell by 0.64 percent to close at N149.888 trillion, down
from N150.846 trillion in the previous session.
Similarly, the All-Share Index (ASI) shed 1,493.71 points, or 0.64 percent, to
settle at 233,580.83, compared with 235,074.54 recorded earlier.
The downturn was largely driven by profit-taking in stocks including Aradel
Holdings, Deap Capital Management, Trans-Nationwide Express, Regency
Alliance Insurance, C&I Leasing, alongside 29 other decliners.
Market breadth closed negative, with 34 losers against 14 gainers, while the
year-to-date return moderated to 50.10 percent.
On the losers’ chart, Aradel Holdings and Deap Capital Management led with
10 per cent each, closing at N1,575.00 and N4.05 per share respectively.
Trans-Nationwide Express declined by 9.90 percent to close at N3.64, while
Regency Alliance Insurance lost 9.57 percent to settle at 85 kobo.
C&I Leasing also dipped by 9.48 percent to end at N5.25 per share.
Conversely, Red Star Express led the gainers’ chart with 9.60 percent to close
at N24.55, followed by Legend Internet which rose 9.09 percent to N6.00.
Neimeth Pharmaceuticals gained 7.10 per cent to close at N8.30.
Abbey Mortgage Bank appreciated by 5.45 percent to N8.70, while Ellah Lakes
rose 4.65 per cent to N9.00 per share.
Trading activity, however, declined as total volume fell by 19.35 percent to
393.65 million shares valued at N19.21 billion across 45,813 deals.
Access Holdings led the volume chart with 39.05 million shares, representing
9.92 percent of total trades, while Lafarge Africa recorded the highest
transaction value at N2.25 billion, accounting for 11.70 percent of total
turnover. (NAN)