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NSE: Market reverses previous day gain as large-cap stocks lead losers

Heavy sell-offs in the shares of the two most capitalised companies on the Nigerian Stock Exchange –Dangote Cement and MTNN –accounted primarily for the N13.851 billion loss recorded by the market on Friday.

Lower trade volumes and investors’ apathy have defined market operations throughout this week with COVID-19 driving majority of traders to conduct business in the confines of their homes.

The market recorded ended with a positive breadth, causing 15 gainers to emerge against 13 losers. The All Share Index (ASI) dipped by 0.13% to end the day at 21,094.62. Market capitalisation diminished to N10.994 trillion, shedding a little more than the entire Thursday’s gain.

Year to date, the index is down by 21.40%.


Access topped the gainers’ chart today, appreciating by 10% to close at N6.05. Courtville added up 10% to end today’s trade at N0.22. Zenith Bank went up by 8.18% to N11.90. UACN leapt to N7, notching up 7.69% in the process. Union Diagnostic completed the top 5, climbing up by 7.69% to N0.28.


SAHCO led losers, declining by 9.89% to close at N2.37. C & I Leasing shed 9.68% to end today’s trade at N5.60. Cornerstone Insurance fell to N0.54, losing 6.90%. Custodian and Allied slumped to N5.25, recording 6.25% depreciation. Wema closed at N0.47, going down by 4.08%.

READ ALSO: NSE: Market capitalisation adds N10.766bn despite declining sales volume


235.298 million shares estimated at N2.978 billion were traded today in 3,998 deals.

FBN Holdings led trade with 59.680 million units of its stocks worth N232.005 million traded in 329 trades. 43.559 million units of GTB shares priced at N768 million exchanged hands in 430 transactions. UBA had 31.121 million shares valued at N152.969 million traded in 322 deals. Zenith Bank traded 27.753 million shares estimated at N322.530 million in 607 transactions. Access Bank traded 15.406 million shares valued at N88.110 million in 224 deals.

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