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Nigeria: Nigerian Stocks Deepen Loss By N164 Billion On Continued Profit-Taking

nigeria nigerian stocks deepen loss by n164 billion on continued profit taking
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The All Share Index (ASI) edged lower to 42,043.79 index points.

Nigerian stocks heaped up further loss on Tuesday as the market shed 0.74 per cent, equivalent to N164.313 billion, with mid-cap stocks including Nigerian Breweries, WAPCO, Ardova, BOC Gases and Zenith accounting the most for the depreciation.

The Banking Index crashed by 3.06 per cent to 410.72 index points to emerge the worst performer among the sectorial indices, compounding losses.

Market breadth was negative, with 50 losers emerging against nine gainers.

The All Share Index (ASI) edged lower to 42,043.79 index points while market capitalisation slipped to N21.994 trillion.

Year to date, the index is up by 4.4 per cent.

TOP FIVE GAINERS

Champions Breweries led the gainers, appreciating by 9.94 per cent to close at N3.76. Unilever added 5.19 per cent to end today’s trade at N14.20. Etranzact advanced by 5.15 per cent to N2.45. Veritas Kapital rose to N0.22, notching up 4.76 per cent in the process. Sovereign Trust completed the top five, climbing up by 4 per cent to N0.26.

TOP FIVE LOSERS

Linkage Assurance topped the losers’ chart, declining by 10 per cent to close at N0.81. BOC Gases shed 9.99 per cent to end today’s trade at N13.61. Ardova fell to N17.15, losing 9.97 per cent. Berger Paints slumped to N7.25, recording 9.94 per cent depreciation. NNFM closed at N8.75, going down by 8.76 per cent.

TOP FIVE TRADES

556.023 million shares valued at N4.785 billion were traded today in 7,110 deals.

Union Bank was the most active stock with 79.525 million of its stocks worth N457.255 million traded in 47 deals. 52.666 million units of Transcorp shares priced at N54.152 million exchanged hands in 261 transactions. FBN Holdings had 49.539 million shares valued at N361.646 million traded in 332 deals. Zenith traded 38.576 million shares estimated at N1.033 billion in 655 transactions. UBA traded 35.514 million shares valued at N314.796 million in 350 deals.