Stock market dips further by 2.16%, sheds N544bn

The Nigerian stock market on Tuesday closed on a bearish note, occasioned by profit taking in Airtel Africa and 14 other stocks.

The All Share Index was down by 2.16% to close at 45,366.32 points from the previous close of 46,365.95 points.

The Market Capitalisation declined by 2.15% to close at N24.710 trillion from the previous close of N25.254 trillion, thereby shedding N544 billion.

An aggregate of 420.277 million units of shares were traded in 3,486 deals, valued at N3.62 billion.

The Market Breadth closed positive as 18 equities emerged as gainers against 15 equities that declined in their share prices.

Percentage Gainers

UCAP led other gainers with 9.69% growth to close at N12.45 from the previous close of N11.35

Regency Assuarnce and Sovereign Trust Insurance among other gainers also grew their share prices by 8.33% and 7.69% respectively.

Percentage Losers

Airtel Africa led other price decliners as it shed 10.00% of its share price to close at N1458 from the previous close of N1620.

Nigerian Breweries and CWG among other price decliners also shed their share prices by 9.80% and 8.64% respectively.

Volume Drivers

CWG traded about 258.793 million units of its shares in 5 deals, valued at N191.5 million.

GTCO traded about 57.415 million units of its shares in 570 deals, valued at N1.07 billion.

Zenith Bank traded about 13.155 million units of its shares in 337 deals, valued at N268.75 million.

Source: Stock market dips further by 2.16%, sheds N544bn – StocksWatch (stocksng.com)

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