Nigeria’s stock market completes bearish run as Stanbic IBTC tops losers’ chart

Investors confidence in the Nigerian stock market remain low as the bourse continued its bearish run with the equity capitalization standing at N21.025 trillion at the end of trading on Friday.

However, this was below the N21.036 trillion recorded on Thursday.

The All Share Index (ASI) dipped by 0.06 percent to end trade at 40,186.70 ASI on Friday, below the 40,212.19 the market closed with the previous trading day.

Activities monitored at the Nigerian Stock Exchange (NSE) by Ripples Nigeria showed that the volume of shares traded also dipped as investors traded 307,78 million shares on Friday, below the 426.26 million shares traded on Thursday.

The number of deals sealed by investors also dropped to 4,393 at the close of the market on Friday, below the 4,972 deals completed on Thursday.

The value of shares was not left out as NSE reported that it decreased from N4.75 billion to N2.90 billion on Friday.

At the trading floor, Livestock rose to the top of the gainers’ chart after its share price gained N0.19kobo to close at N2.24kobo from N2.05 it opened trading with.

Portland Paints followed after its share price increased from N2.99kobo to N3.25kobo following a N0.26kobo gain.

FTN Cocoa joined Livestock and Portland Paints on the list with 8.16 percent gain and moved from N0.49kobo to N0.53kobo per share.

United Capital’s share price gained N0.37kobo and moved to N6.35kobo from the opening price of N5.98kobo.

African Prudential completed the top five after gaining N0.4kobo to move from N6.9kobo to N7.3kobo per share.

Stanbic IBTC topped the losers’ chart after shielding N4.3kobo to drop from N43 to N38.7kobo per share.

READ ALSO: Nigeria’s stock market remains bearish despite economic exit from recession

May & Baker also made the list after its share price dropped from N4.65 kobo to N4.19kobo following a loss of N0.46kobo.

Multiverse’s share price dipped by 8.33 percent to secure the third spot as it ended trading with N0.22kobo from N0.24kobo.

Neimeth’s share price declined from N2.18kobo to N2.01 per share after losing N0.17kobo during trading.

Royal Exchange completed the list as its share price fell by 7.41 percent to end trading with N0.25kobo, having opened trade with N0.27kobo per share.

For traded shares, First Bank was the most active stock on Friday as investors traded 85.57 million shares worth N624.73 million.

United Capital shares were traded at a volume of 53.32 million and valued at N341.82 million.

UBA was next with 23.34 million shares traded at a cost of N192.94 million.

Zenith Bank reported 17.57 million shares worth N431.95 million while GTBank recorded 11.44 million traded shares at a value of N348.55 million.

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