Nigerian bourse drops N15b in bearish trading
The domestic stock market yesterday closed on a negative note, with market capitalisation shedding N15 billion or 0.56 per cent to close at N26.517 trillion as against N26.532 trillion recorded the previous day. Also, the All-Share Index (ASI) lost 27. 87 points or 0.56 per cent to close at 49,161.45 compared with 49,189.32 recorded on Monday. The weak performance was driven by sell-off in shares of Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), Access Holding and FBN Holdings. Consequently, the year-to-date (YTD) return fell to 15.09 per cent. Market breadth closed negative as 17 stocks declined while 14 advanced. NGX Group and Multiverse Mining Exploration led the gainers’ table during the day, gaining 10 per cent each to close at N19.80 and N3.41 per share. Eterna followed by gaining 9.91 per cent to close at N6.32, while Courteville Business Solutions added by 8.89 per cent to close at 49k per share. Champion Breweries appreciated by 8.53 per cent to close at N3.69 per share.
Nigerian bourse drops N15b in bearish trading
The domestic stock market yesterday closed on a negative note, with market capitalisation shedding N15 billion or 0.56 per cent to close at N26.517 trillion as against N26.532 trillion recorded the previous day. Also, the All-Share Index (ASI) lost 27. 87 points or 0.56 per cent to close at 49,161.45 compared with 49,189.32 recorded on Monday. The weak performance was driven by sell-off in shares of Guaranty Trust Holding Company (GTCO), United Bank for Africa (UBA), Access Holding and FBN Holdings. Consequently, the year-to-date (YTD) return fell to 15.09 per cent. Market breadth closed negative as 17 stocks declined while 14 advanced. NGX Group and Multiverse Mining Exploration led the gainers’ table during the day, gaining 10 per cent each to close at N19.80 and N3.41 per share. Eterna followed by gaining 9.91 per cent to close at N6.32, while Courteville Business Solutions added by 8.89 per cent to close at 49k per share. Champion Breweries appreciated by 8.53 per cent to close at N3.69 per share.