Stock market closes lower, returns -0.48% WtD

The Nigerian stock market closed the week to day lower as 0.04% gain in MTN Nigeria was not enough to keep the market afloat, coupled with profit taking in other 30 stocks that shed weight last week.

The stock market last week closed on a negative note, shedding 0.48%, week on week.
The All Share Index was down by 0.48% to stand at 52,214.62 points from 52,465.31 points recorded previously
Market capitalization declined also by 0.48% to settle at N28.431 trillion from N28.568 trillion recorded the previous week.

An aggregate of 3.6 billion units of shares were traded in 27,801 deals, valued at N36.45 billion.
The market breadth closed positive as 48 stocks gained against 30 stocks that declined in their share prices.

CWG led other gainers in the course of last week with 56.82% growth, closing at N2.07 from the previous close of N1.32.
ARDOVA, TRANSCORP, MULTIVERSE and Sovereign Trust Insurance grew their share prices by 37.50%, 33.51%, 32.90% and 27.27% respectively.
Other among the top 10 gainers include: NCR 20.75%, MRS 20.75%, Redstar Express 20.33%, ABC Transport 17.65% and MCNICHOLS 15.38% respectively.

C & I Leasing led other price decliners, shedding 19.60% of its share price to close at N3.20 from the previous close of N3.98.
ACCESSCORP, Royal Exchange, Sunu Assurance and BUA CEMENT shed 12.00%, 11.48%, 9.26% and 8.02%respectively.
Other price decliners include: Unity Bank (7.41%), COURTVILLE (6.52%), NPF Microfinance (5.29%), Wema Bank (5.19%) and Prestige Assurance (5.13%) respectively.

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