Stock market closes bearish with market capitalisation down N32.232trn

By Cynthia Ezekwe

Trading activities on the Nigerian Exchange Limited (NGX) closed bearish on Thursday,  as market capitalisation declined by 1.32 per cent to close at N32.232 trillion from the previous close of N32.662 trillion,

The All Share Index  (ASI) declined by 1.32 per cent  to close at 59,195.21 points from the previous close of 59,985.10 points.

An aggregate of 1.17 billion units of shares were traded in 12,611 deals, valued at about N15 billion.

The Market Breadth closed negative as 36 equities emerged as gainers against 40 equities that shed their share prices.

Transcorp Hotel, MRS and Total Energy led other gainers with 10.00 per cent increase  each to close at N13.31, N68.75 and N336.70 from the previous close of N12.10, N62.50 and N306.10 respectively.

Also, Ikeja Hotel, ETRANZACT and GUINNESS among other gainers grew their share prices by 9.97 per cent , 9.92 per cent  and 9.90 per cent  respectively.

However, Sunu Assurance led the price  decliners as it shed 10.00 per cent  of its share price to close at N0.45 from the previous close of N0.50.

Cornerstone Insurance, MCNICHOLS and ACCESSCORP among other losers also shed their share prices by 9.73 per cent , 9.33 per cent, and 9.24 per cent respectively.

The major volume drivers for Thursday’s trading activities were ACCESSCORP, UBA, and Fidelity Bank.

ACCESSCORP traded about 121.5 million units of its shares in 910 deals, valued at N1.96 billion; UBA traded about 192.8 million units of its shares in 1,142 deals, valued at N2.34 billion; while Fidelity Bank traded about 102.6 million units of its shares in 542 deals, valued at N726.7 million.