Trading closes flat on Nigerian Stock Exchange

The market breadth closed positive with 22 gainers against 21 losers.

The total volume of trades depreciated by 47.63% [Reuters/Akintunde Akinleye]

Trading activities on the Nigerian stock market closed on a cautious note with the All-Share Index appreciating by 0.20 points.

Specifically, the index rose by 0.20 points or 0.0005 per cent to close at 41,814.94 from 41,814.74 achieved on Monday.

Accordingly, month-to-date and year-to-date returns were flat at 4.0 per cent and 3.8 per cent, respectively.

However, the market capitalisation closed flat at N21.821 trillion the same figure posted on Monday.

The market performance was driven by price appreciation in large and medium capitalised stocks which are International Breweries, UACN, C & I Leasing, Lafarge Africa, and Ecobank Transnational Incorporated.

The market breadth closed positive with 22 gainers against 21 losers.

Universal Insurance and University Press dominated the gainers' chart in percentage terms with 10 per cent each to close at 22k and N1.65 per share, respectively.

Courteville Business Solutions followed with a gain of 9.76 per cent to close at 45k per share.

Abbey Mortgage Bank rose by 9.30 per cent to close at 94k, while International Breweries gained 9.28 per cent to close at N5.30 per share.

On the other hand, Associated Bus Company led the losers' chart in percentage terms by 8.82 per cent to close at 31k per share.

FTN Cocoa Processors followed with 6.25 per cent to close at 45k, while Cutix lost 5.47 per cent to close at N6.05 per share.

Nigerian Exchange Group (NGXGroup) lost 4.61 per cent to close at N19.65, while Sovereign Trust Insurance shed 4.17 per cent to close at 23k per share.

Meanwhile, the total volume of trades depreciated by 47.63 per cent to 353.23 million units, valued at N5.57 billion exchanged in 5,322 deals.

This was in contrast with 674.49 million shares, worth N7.59 billion and transacted in 5,432 deals on Monday.

Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 73.06 million shares valued at N906.76 million.

Guaranty Trust Holding Company followed with 25.04 million shares worth N715.26 million, while Universal Insurance traded 22.77 million shares valued at N4.92 million.

United Bank for Africa sold 20.33 million shares worth N171.21 million, while Transcorp transacted 18.44 million shares worth N18.86 million.

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