Stock market closes negative with market capitalisation down 28bn

By Cynthia Ezekwe

Trading activities on the Nigerian Exchange (NGX) closed negative on Friday , as market capitalisation declined by N28 billion to close at N28,267 trillion.

The All-share Index (ASI) depreciated by 0.09 per cent to close at 51,893.94 points.

Meanwhile, a total of 541.9 million units of shares were traded in 3,766 deals, valued at  N2.36 billion.

The market breadth closed negative as MULTIVERSE led 18 gainers, and 21 equities that lost their share prices,  topped by CADBURY.

MULTIVERSE led the gainers chart as it appreciated 9.96 per cent  to close at N2.54; TRANSCORP was  up + 9.74 per cent to close at N1.69; ROYALEX increased by 8.93 per cent to close at N0.61; FTNCOCOA was up  8.00 per cent to close at N0.27; while IKEJAHOTEL gained  7.41 per cent  to close at N1.16.

On the contrary, CADBURY topped the losers chart as it shed 9.73 per cent of its share price  to close at N10.20; WAPIC was down 9.52 per cent  to close at N0.38; RTBRISCOE lost 33 per cent  to close at N0.22; WEMABANK depreciated 5.00 per cent  to close at N3.80; while FBNH lost 4.13 per cent  to close at N10.45.

At the end of the trading activities on Friday, the Year-to-Date (YtD) returns settled at 0.57 per cent, while the stock market advanced by 298.28 basis points.