Nigeria’s stock market drops by N16.88 billion
- 12th June 2020
- Posted by: Hakeem
- Category: FOREX LATEST NEWS DAILY, International
Nigerian Stock Market moved further bearish by 0.13% to 25,182.67 points as the bears clawed down prices in today’s trading session. Market capitalization consequently dropped to N13.136 trillion as investors lost N16.88 billion.
A turnover of 337.1 million shares valued at N3.40billion in 3,880 deals was recorded in today’s trading. GUARANTY was the most traded stock by volume and value at 81.2 million units, value at N2.01 billion.
Investor sentiments as measured by market breadth index was negative with 17 losers against 16 gainers. NEIMETH (+9.83%) led the gainer’s chart while CAVERTON (-10.00%) topped the losers.
Sector performance was bearish as only the Insurance Index (+0.24%) closed positive. The Oil & Gas Index led the laggards with a loss of -0.81%, followed by the Banking Index’s -0.28% depreciation.
Likewise, the Consumer and Industrial Index fell by -0.24% and -0.19% respectively. Losses in OANDO (-7.14%) drove down the Oil & Gas, as the lenders contracted due to price depreciation in FIDELITY (-1.07%) and GUARANTY (-0.83%). UACN (-4.00%) and NB (-1.18%) loss drove the Consumer Index to the negative region, while WAPCO (-2.16%) overweighed the Industrials.
On the flip side, AIICO (+6.31%) and LAWUNION (+4.95%) spurred appreciation in the Insurance sector.
NEIMETH up 9.83% to close at N2.57, AIICO up 6.31% to close at N1.18, LAWUNION up 4.95% to close at N1.06, AFRIPRUD up 3.41% to close at N4.25, PZ up 2.08% to close at N4.9
CAVERTON down 10.00% to close at N2.25, JBERGER down 6.59% to close at N19.85, UACN down 4.00% to close at N7.2, WAPCO down 2.16% to close at N11.3, NB down 1.18% to close at N42.