Nigerian Stock Market Ends Post-Christmas Trading on Negative Note

Trading at the Nigerian Stock Exchange post-Christmas ended in negative territory as the All-Share Index declined by 0.34%. Equities lost N143 billion, causing the market capitalization to drop to N40.367 trillion.

Market breadth was positive with 41 gainers compared to 21 losers. Trading volume increased slightly to 432.91 million units from 423.30 million units the previous Friday. However, traded value declined to N12.94 billion from N16.59 billion.

Top gainers for the day were ETERNA, MANSARD, MULTIVERSE, INFINITY and IMG. Meanwhile, UACN, DEAPCAP, CALVERTON, ROYALEX and TANTALIZER recorded losses.

Volume leaders were JAIZBANK, TRANSCORP, UNITYBNK, GTCO and UCAP. In terms of value, GEREGU, GTCO, AIRTELAFRI, ZENITHBANK and UCAP led.

Trading sentiment was mixed for top cap stocks, with price gains for MTNN, GTCO and ZENITH BANK, but a decline for DANGCEM.

Tier 1 bank performance was also mixed as GTCO and ZENITHBANK gained while FBNH and UBA declined, leaving ACCESSCORP unchanged.

The bears prevailed at the exchange to end Christmas trading week on a low note due to profit taking.

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