Nigeria’s capital market slips to bearish zone as ASI dips by 0.33%

After a week of bull trading, the All-Share Index (ASI) in the Nigerian capital market declined by 0.33 percent at the close of trading on Monday.

After five hours of trading today, the ASI closed at 70,612.81, down from 70,849.38 posted by the bourse last Friday.

Similarly, the market capitalization crashed today by N132.61 billion to N38.795 trillion from N38.927 trillion recorded in 7,630 deals four days ago.

However, the market turnover increased to N7.75 billion from N5.56 billion during the day’s trading.

The market breadth closed positive as 24 stocks advanced and 18 declined while 77 others remained unchanged.

Aluminium Extrusion Industries and R.T. Briscoe Plc led other gainers with 10 percent growth each to close at N7.15 kobo and N0.66 kobo from their previous prices of N6.50 kobo and N0.60 kobo per share respectively.

Mecure Industries, McNichols, and Deap Capital Plc, amongst other gainers also raised their share prices by 9.95 percent, 9.84 percent, and 9.68 percent respectively.

Japaul Gold Ventures led other losers after it shed 9.09 percent off its share price to close at N1.80 kobo from the previous N1.98 kobo per share.

BUA Cement, Veritas Kapita Assurance, Universal Insurance Plc, and Chams are other losers today.

The four entities shed their share prices by 7.76 percent, 7.41 percent, and 4.00 percent respectively.

Fidelity Bank Plc traded 94.048 million units shares valued at N858.547 million in 426 deals while Japaul Gold Ventures Plc traded 65.977 million shares worth N120.976 million in 549 deals today.

In the same vein, the United Bank for Africa (UBA) traded 54.924 million shares valued at N1.141billion in 384 deals.

MTNN recorded the highest value for the day at N2.228 billion followed by UBA at N1.14 billion and FIDELITYBK at N858 million.

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