Mixed sentiments trail trading on Nigeria’s stock exchange

Trading activities on the stock market closed on a mixed note as the Nigerian Exchange Ltd All-Share Index declined by 0.34 per cent due to share price depreciation. Specifically, the All-Share Index dropped by 0.34 per cent or 366.26 points to close at 107,455.13, compared to 107,821.39 posted on Friday. However, the market capitalisation gained N94 billion or 0.14 per cent from an opening of 67.193 trillion to close at N67.287 trillion. The market loss was driven by price depreciation in banking stocks, including First Bank of Nigeria Holdings, Guaranty Trust Holding Company, and United Bank for Africa.
Consequently, the market breadth closed negative with 35 losers and 20 gainers. Ikeja Hotel led the losers’ table by 9.92 per cent to close at N10.90, followed by the United Capital losing 9.91 per cent to close at N20 per share. Cutix lost 9.84 per cent to close at N2.29 while Multiverse Mining fell 9.74 per cent to close at N8.80 per share. Also, Africa Prudential declined by 9.40 per cent to close at N32.05 per share. On the gainers’ table, Nigerian Exchange Ltd. and Learn Africa gained 10 per cent each, closing at N33.00 and N3.63 per share, respectively.
Champion Breweries gained 9.90 per cent to close at N4.33, while ABC Transport rose by 8.86 per cent to close at N1.56 per share. Also, Tantalizer increased by 9.47 per cent to close at N2.08 per share. A total of 308 million shares worth N7.231 billion were exchanged across 15,474 transactions. On the activity table, Zenith Bank led in volume and value of trade with 32.37 million shares worth N1.56 billion.