Market extends downtrend, sheds N137bn

The equity market on Wednesday closed on a bearish note as downtrends extends to seven straight sessions amidst profit taken.

The All Share Index dropped by 0.50% to settle at 50,188.55 points from the previous close of 50,442.37 points.

The Market Capitalisation declined by 0.50% to close at N27.065 trillion from the previous close of N27.202 trillion, thereby shedding N137 billion.

An aggregate of 829.5 million units of shares were traded in 4,977 deals, valued at N4 billion.

The Market Breadth closed negative as just 3 equities appreciated in their share prices against 34 equities that declined in their share prices.

Percentage Gainers

FCMB led other gainers with 3.33% growth to close at N3.10 from the previous close of N3.00.

NASCON and Nigeria Breweries also grew their share prices by 0.91% and 0.42% respectively.

Percentage Losers

Jaiz Bank, Prestige Assurance and Custodian Investment top the long list of price decliners by shedding 10.00% each to settle at N0.72, N0.36 and N6.30 from their previous closes of N0.80, N0.40 and N7.00 respectively.

Volume Drivers

Transcorp traded about 23 million units of its shares in 132 deals, valued at about N23 million.

GTCO traded about 15.7 million units of its shares in 489 deals, valued at N313 million.

UBA traded about 13 million units of its shares in 246 deals, valued at N92 million.

Source: Market extends downtrend, sheds N137bn – StocksWatch (

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