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Nigeria’s stock market slips back to bears’ territory. Jaiz Bank, Royal Exchange among top losers



The Nigerian stock market slipped back to bears’ territory on Friday after the bourse failed to maintain its bullish run.

The market’s equity capitalization dropped from N20.55 trillion to N20.51 trillion at the close of trading on Friday.

The All- Share Index declined by 0.20 percent and moved from 39,293.14 to 39,216.20 during trading.

250.92 million shares worth N2.79 billion exchanged hands in 3,746 deals on Friday.

The number of traded shares was higher than the 229.41 million shares worth N3.78 billion completed in 4,016 deals the previous day.

Guinness topped the gainers’ list after its share price rose by 9.89 percent to move from N27.3kobo to N30 per share.

Prestige gained 9.76 percent during trading and increased its share price from N0.41kobo to N0.45kobo per share.

Sovereign Insurance’s share price rose by 9.09 percent to end trading at N0.24kobo from N0.22kobo per share.

UACN recorded a gain of N0.7kobo and moved from N8 to N8.7kobo per share at the close of trading.

ABSTRANS share price increased by 7.14 percent to end trade at N0.30kobo from N0.28kobo per share.

READ ALSO: Nigeria’s stock market positive trend continues. WAPIC, Neimeth among top gainers

On the other side of the table, FTN Cocoa lost 9.80 percent during trading and dropped from N0.51 kobo to N0.46kobo.

Jaiz Bank’s share price declined from N0.65kobo to N0.59kobo per share after shedding 9.23 percent in share price.

Royal Exchange’s share price plunged by 7.69 percent to end trading at N0.24kobo from N0.26kobo per share.

WAPIC’s share price declined from N0.55kobo to N0.51kobo per share after losing 7.27 percent in share price during trading.

Afrinsure completed the list as its share price fell by 4.76 percent to end trading at N0.2kobo from N0.21kobo per share.

UBN was the most active stock as investors traded 79.22 million shares worth N419.90 million.

Zenith Bank shares were traded at a volume of 21.01 million and valued at N462 million.

GTBank was next with 19.79 million shares valued at N619.61 million.

Guinness reported 12.56 million shares worth N372.08 million while UBA recorded over 10.27 million traded shares at a value of N69.94 million.

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