Stock Market Down 0.05% on Profit-taking in UACN, 22 Others  

Kayode Tokede

The Nigerian stock market ended yesterday trading on a downbeat note, continuing its negative trend, with the major market indicator dropping by 0.05 per cent on investors profit-taking in UACN and 22 others.

The Nigerian Exchange Limited All Share Index (NGX ASI) lost 78.28 basis points or 0.05 per cent to close at 146,862.01 basis points from 146,940.29 basis points it opened for trading.

Consequently,  market capitalisation declined by N33.8 billion to close at N 93.625 trillion from N93.659 trillion it closed for trading the previous day.

The overall downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; UACN, Nigerian Breweries, Access Holdings, Oando and Haldane McCall.

Despite the index decline, market breadth was positive with 28 gainers surpassing 23 losers. Japaul Gold & Ventures recorded the highest price gain of 10 per cent to close at N2.53, per share. Prestige Assurance followed with a gain of 9.40 per cent to close at N1.63, while MeCure Industries rose by 7.72 per cent to close at N34.90, per share.

Initiates Plc (TIP) appreciated by 7.30 per cent to close at N12.50, while Consolidated Hallmark Holdings up by 6.97 per cent to close at N4.30, per share.

On the other hand, Chams Holding Company led the losers’ chart by 10 per cent to close at N3.06, per share. Haldane McCall followed with a decline of 8.88 per cent to close at N4.00, while UACN declined by 8.18 per cent to close at N80.80, per share.

SUNU Assurance depreciated by 6.98 per cent to close at N4.00, while Linkage Assurance declined by 4.35 per cent to close at N1.76, per share.

Also, the total volume traded fell by 63.25 per cent to 747.087 million units, valued at N12.426 billion, and exchanged in 19,161 deals.

Transactions in the shares of Cutix topped the activity chart with 122.914 million shares valued at N369.084 million. FCMB Group followed with 80.668 million shares worth N879.252 million, while Consolidated Hallmark Holdings traded 71.176 million shares valued at N286.399 million.

Fidelity Bank traded 63.839 million shares valued at N1.213 billion, while Tantalizer sold 57.837 million shares worth N136.451 million.