Stock Market Outing Tepid As Cautious Trading Wipes N4bn Off Investments

Yesterday’s Nigerian banal marketplace closed bearish with a diminution of N4 cardinal amid cautious trading activity.

The All-Share Index (ASI) mislaid 6.27 points, representing a diminution of 0.004 per cent, to adjacent astatine 147,710.96 points. Market capitalisation besides mislaid N4 cardinal to adjacent astatine N93.757 trillion.

The downturn was impacted by losses recorded successful medium—and large-capitalised stocks, including Fidson Healthcare, Berger Paints Nigeria, Nigerian Breweries, Dangote Sugar Refinery, and NASCON Allied Industries.

Also, marketplace sentiment was bearish, with 36 declining stocks outnumbering 23 gainers. Regency Alliance Insurance recorded the highest terms summation of 8.82 per cent to adjacent astatine N1.48 per share. Prestige Assurance followed with a summation of 6.71 per cent to adjacent astatine N1.75, portion Wapic Insurance roseate by 6.45 per cent to adjacent astatine N3.30 per share.

Legend Internet roseate by 5.45 per cent to adjacent astatine N5.80, portion CWG appreciated by 4.74 per cent to adjacent astatine N18.8 per share.

On the different hand, Austin Laz & Company led the losers’ illustration by 7.94 per cent to adjacent astatine N2.90, portion Deap Capital Management & Trust and Fidson Healthcare followed with a diminution of 6.67 per cent each to adjacent astatine N1.68 and N40.60, per share.

Caverton Offshore Support Group depreciated by 6.35 per cent to adjacent astatine N6.49, portion Berger Paints declined by 5.92 per cent to adjacent astatine N36.55 per share.

The full measurement traded declined by 20.73 per cent to 495.103 cardinal units, valued astatine N17.341 billion, and exchanged successful 495.103 deals. Transactions successful the shares of Fidelity Bank topped the enactment illustration with 50.903 cardinal shares valued astatine N1.021 billion. Chams Holding Company followed with 37.363 cardinal shares worthy N157.747 million, portion Tantalizer traded 36.693 cardinal shares valued astatine N85.251 million.

Access Holdings traded 30.156 cardinal shares valued astatine N784.598 million, portion Sovereign Trust Insurance sold 21.729 cardinal shares worthy N76.671 million.