Volatility Maintains Grip On Stock Market As Investors Loss N36bn

The Nigerian stock market yesterday extended its negative trajectory, as investors’ investments declined by N36 billion.

The All-Share Index (ASI) shed 56.36 points, representing a decline of 0.05 per cent to close at 104,858.77 points. Also, market capitalisation dipped by N36 billion to close at N65.754 trillion.

The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Nigerian Aviation Handling Company (NAHCO), Custodian Investment, Unilever Nigeria, Livestock Feeds and Access Holdings.

Investor sentiment, as measured by market breadth, closed negative as 14 stocks advanced, while 28 declined. CWG emerged the highest price gainer of 9.64 per cent to close at N9.10, per share. Veritas Kapital Assurance followed with a gain of 8.41 per cent to close at N1.16, while Deap Capital Management and Trust appreciated by 7.61 per cent to close at 99 kobo, per share.

Wapic Insurance rose by 4.26 per cent to close at N2.45, while Wema Bank appreciated by 2.37 per cent to close at N10.80, per share.

On the other side, Livestock Feeds led others on the losers’ chart with 9.57 per cent to close at N7.65, per share.

Royal Exchange followed with a decline of 8.24 per cent to close at 78 kobo, while Custodian Investment increased by 6.98 per cent to close at N20.00, per share.

UPDC lost 6.23 per cent to close at N2.86, while Chams Holding Company depreciated by 5.16 per cent to close at N2.02, per share.

The total volume traded decreased by 77.28 per cent to 310.528 million units, valued at N6.248 billion, and exchanged in 10,182 deals. Transactions in the shares of Fidelity Bank led the activity with 40.031 million shares worth N672.793 million. Veritas Kapital Assurance followed with 37.176 million shares valued at N42.415 million, while Nigerian Breweries traded 27.012 million shares valued at N890.075 million.