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Stock market loses N13bn in bearish trading

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 Trading on the nation s bourse again ended negative on Wednesday as market capitalisation lost N13 billion or 0 05 per cent to close at N26 657 trillion against N26 670 trillion on Tuesday Also the All Share Index lost 23 40 points or 0 05 per cent to close at 49 421 91 from 49 445 31 recorded on Tuesday Accordingly month to date gain moderated to 15 7 per cent while year to date loss increased to 19 56 per cent The loss was driven by price depreciation in FBN Holdings Access Holdings and WAPCO Market sentiment closed positive with 10 gainers relative to 12 losers Unity Bank led the losers chart in percentage terms by 10 per cent to close at 44k per share Murtiverse followed with 9 82 per cent to close at N3 13 while Fidelity Bank shed 5 46 per cent to close at N3 67 per share Honeywell Flour Mills lost 3 98 per cent to close at N2 35 while Chams shed 3 45 per cent to close at 30k per share Conversely Academy Press dominated the gainers chart in percentage terms with 9 78 per cent to close at N1 66 per share NEM Insurance followed with 6 08 per cent to close at N5 25 while Cadbury rose by 5 45 per cent to close at N13 per share Jaiz Bank garnered 4 76 per cent to close at 80k while NGX Group appreciated by 4 38 per cent to close at N18 55 per share However the total volume of trades decreased by 75 35 per cent to 51 88 million units valued at N590 01 million exchanged in 2 981 deals This was in contrast with a total of 147 59 million shares worth N2 39 billion traded in 3 386 deals on Tuesday Transactions in the shares of Zenith Bank topped the activity chart with 6 3 million shares valued at N125 54 million GTCO followed with 4 99 million shares worth N94 92 million while Sterling Bank traded 4 86 million shares valued at N7 29 million Fidelity Bank traded 3 85 million shares valued at N13 62 million while Transcorp transacted 2 95 million shares worth N3 1 million NewsSourceCredit NAN
Stock market loses N13bn in bearish trading

Trading on the nation’s bourse again ended negative on Wednesday as market capitalisation lost N13 billion or 0.05 per cent to close at N26.657 trillion against N26.670 trillion on Tuesday.

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All-Share Index

Also, the All-Share Index lost 23.40 points or 0.05 per cent to close at 49,421.91 from 49,445.31 recorded on Tuesday.

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Accordingly, month-to-date gain moderated to 15.7 per cent, while year-to-date loss increased to 19.56 per cent.

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Access Holdings

The loss was driven by price depreciation in FBN Holdings, Access Holdings and WAPCO.

Market sentiment closed positive with 10 gainers relative to 12 losers.

Unity Bank

Unity Bank led the losers’ chart in percentage terms by 10 per cent to close at 44k per share.

Fidelity Bank

Murtiverse followed with 9.82 per cent to close at N3.13, while Fidelity Bank shed 5.46 per cent to close at N3.67 per share.

Honeywell Flour Mills

Honeywell Flour Mills lost 3.98 per cent to close at N2.35 while Chams shed 3.45 per cent to close at 30k per share.

Academy Press

Conversely, Academy Press dominated the gainers’ chart in percentage terms with 9.78 per cent to close at N1.66 per share.

NEM Insurance followed with 6.08 per cent to close at N5.25, while Cadbury rose by 5.45 per cent to close at N13 per share.

Jaiz Bank

Jaiz Bank garnered 4.76 per cent to close at 80k, while NGX Group appreciated by 4.38 per cent to close at N18.55 per share.

However, the total volume of trades decreased by 75.35 per cent to 51.88 million units valued at N590.01 million exchanged in 2,981 deals.

This was in contrast with a total of 147.59 million shares worth N2.39 billion traded in 3,386 deals on Tuesday.

Zenith Bank

Transactions in the shares of Zenith Bank topped the activity chart with 6.3 million shares valued at N125.54 million.

Sterling Bank

GTCO followed with 4.99 million shares worth N94.92 million, while Sterling Bank traded 4.86 million shares valued at N7.29 million.

Fidelity Bank

Fidelity Bank traded 3.85;million shares valued at N13.62 million, while Transcorp transacted 2.95 million shares worth N3.1 million.

NewsSourceCredit: NAN

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