Nigeria’s domestic stock market opened this week’s trading session on the redline as major index closed negative after the two day Eid el-Fitr holiday.
The bearish outcome was due to losses in the share prices of UACN and 32 other equities.
This led to a 144.65 absolute points decline, representing a 0.1 percent drop on the All-Share Index of listed equities to close at 105,525.99 basis points lower that Friday’ 105,660.64 basis points.
Consequently, the market capitalisation depreciated by more than N90 billion or 0.1 percent to close at N66.116 trillion on Wednesday compared to the N66.257 trillion of previous session.
The midweek trading session ended with a total of 438,094, 603 units of shares that exchanged hands in 17,286 deals.
The market sentiment as measured by market breadth closed negative with 25 gainer and 33 losers.
Top gainers for the day were UPDCREIT, VFDGROUP, AFRIPRUD and UNIONDICON among others with a 10 percent, 9.96 percent, 9.95 percent and 9.28 percent profit on their respective share prices to close at N6.05k, N51.90k, N14.36k and N5.30k.
On the decliners chart, UACN, UPL, SUNUASSUR and CONHALL PLC among others recorded a 10 percent, 9.95 percent, 9.92 percent and 9.78 percent drop on their respective share prices to close at N31.95k, N3.89k, N5.99k and N3.23k.
Olusola Akintonde
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