Geregu Power gains 10% on listing day, market returns -0.09%

The Nigerian stock market on Wednesday closed on a negative note as the All Share Index declined by 0.09%, closing at 48,836.70 points from the previous close of 48,879.74 points. Year-to-date, the market has returned 14.33%

The Market Capitalisation grew by N227 billion, closing at N26.6 trillion from the previous close of N26.373 trillion. This is due to listing by introduction of Geregu Power Plc.

An aggregate of 135.523 million units of shares were traded in 4,041 deals valued at N2.219 billion.

Market Breadth

The market breadth closed negative as 12 equities gained while 22 equities declined in their share prices.

Percentage Gainers

Geregu Power Plc led other gainers with 10% growth to close at N110 from the listing price of N100.

Multiverse, Redstar Express and Sovereign Insurance Plc amongst other gainers also grew their share prices by 9.88%, 9.48% and 8% respectively.

Percentage Losers

Cadbury Plc led other price decliners as it shed 9.93% off its share price to close at N13.60 from the previous close of N12.25.
NNFM, PZ and Corenerstone Insurance Plc amongst other losers also shed their share prices by 9.33%, 9.19% and 8.93% respectively.

Volume Drivers

Cadbury Plc traded about 702.105 million units of its shares in 33 deals, valued at N8.613 million.

NNFM Bank Plc traded about 188.053 million units of its shares in 7 deals, valued at N1.279 million.

PZ Plc traded about 454.384 million units of its shares in 41 deals, valued at N3.809 million.

Source: Geregu Power gains 10% on listing day, market returns -0.09% – StocksWatch (stocksng.com)

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