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NSE: Zenith Bank, Transcorp record highest trade amid shares dumping

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NSE: Investors lose N38bn as market enters third day of loss-making

The stock market dip at the end of the week, with investors losing N300 billion as the equity capitalisation ended trade with N21.15 trillion on Friday, trading below the N21.45 trillion the market closed with on Thursday.

The All Share Index (ASI) also depreciated following a loss of 574.45 basis points, to end the trade at 40.439.85 ASI on Friday, below the 41,014,30 ASI the market closed with the previous day.

Volume of shares traded declined significantly, with data from Nigerian Stock Exchange (NSE) showing investors traded 395.62 million shares on Friday, lower than the 1.27 billion shares of Thursday.

Deals sealed by investors also decreased to 5,321 at the close of market on Friday, below the 6,573 deals secured on Thursday. Also, value of shares traded declined to N5,19 billion from N6,39 billion.

Meanwhile, at the capital market today, UAC Property rose to the top gainers’ chart after rising by 9.59% to close at N0.8kobo on Friday, against the N0.73kobo it opened with on Thursday.

Linkage Assurance came second with N0.59kobo as it share price moved upward from N0.54kobo following a 9.26% rise in share price. Japaul Gold followed after closing the market with N0.65kobo, rising from the opening price of N0.71kobo per share after recording 9.23% gain.

Unity Bank gained 9.23% to move to N0.71kobo from the opening trade of N0.65kobo.

Afrinsure completed the top five with N0.24kobo per share, gaining 9.09% to increase its share price from N0.22kobo.

Read also: NSE: GTBank, Unilever among top losers in stock market

Livestock topped the losers’ chart after shielding N0.22kobo to close the market with N2.03, having opened trading at N2.25kobo.

NEM also made the losers’ list after its share price dropped to N2.05 from N2.27kobo per share, following a loss of N0.22kobo.

BUA Cement share price dip by N5.7kobo to secure the third spot as it ended trading with N73.3kobo from N79 it opened with.

Sovereign Insurance share price declined to N0.26kobo per share from N0.28kobo, declining by 7.14%.

Dangote Cement completed the list as its share price fell by N8 to end trade with N220, having opened the trade with N228 per share.

For top traded shares, Zenith Bank was the most active stock on Friday, as investors traded 55.60 million shares worth N1.37 billion.

Transcorp shares were traded at a volume of 42.71 million valued at N40.96 million.

First Bank was next with 42.06 million shares traded at a cost of N302.48 million.

GTBank reported 42.06 million shares worth over N1.28 billion while Access Bank recorded 40.94 million traded shares at a value of N330.47 million.

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