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Nigeria: Nigerian Stocks Extend Slide Amid Sell Pressure On Flour Mills, GTB, Wapco

nigeria nigerian stocks extend slide amid sell pressure on flour mills gtb wapco
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The Insurance Index was the biggest decliner of the five sectorial indices, shedding 2.09 per cent to 236.17 index points.

The bear run on the Nigerian bourse extended into the third day on Wednesday as investors’ moves to cash in investments weighed on the market, triggering a 0.10 per cent drop in the All Share Index (ASI).

Sell pressure on the shares of Flour Mills, GTB, WAPCO, Champion Breweries and ETI drove the N22.903 billion.

The Insurance Index was the biggest decliner of the five sectorial indices, shedding 2.09 per cent to 236.17 index points.

Trade ended with a negative breadth with 27 losers recorded against 19 losers.

The ASI edged lower to 42,000.01 index points. Market capitalisation fell to N21.971 trillion at the end of trade.

Year to date, the index is up by 4.29 per cent.

TOP FIVE GAINERS

NCR led the gainers, appreciating by 9.94 per cent to close at N3.43. Consolidated Hallmark added up 9.42 per cent to end today’s trade at N0.42. Prestige Assurance went up by 9.09 per cent to N0.48. McNichols rose to N0.61, notching up 8.93 per cent in the process. Eterna completed the top 5, climbing by 7.69 per cent to N5.60.

TOP FIVE LOSERS

Linkage Assurance led losers, declining by 9.88 per cent to close at N0.73. Champions Breweries shed 9.84 per cent to end today’s trade at N3.39. Regal Insurance fell to N0.29, losing 9.38 per cent. African Alliance Insurance slumped to N0.20, recording 9.09 per cent depreciation. Wapic closed at N0.54, going down by 8.47 per cent.

TOP FIVE TRADES

504.837 million shares estimated at N5.310 billion were traded today in 5,887 deals.

Union Bank was the most active stock with 75.550 million of its stocks worth N434.421 million traded in 45 deals. 60.667 million units of GTB priced at N2.010 billion exchanged hands in 349 transactions. Zenith had 50.404 million shares valued at N173.546 million traded in 108 deals. Transcorp traded 44.351 million shares estimated at N45.914 million in 156 transactions. Zenith traded 31.504 million shares valued at N831.984 million in 443 deals.