Nigerian Stock Market Dips Further As ASI Down By 0.90%

Traders witnessed a further decline on the floor of the Nigerian stock exchange with All Share Index (ASI) and Market capitalization dropped by 0.90% and 0.67% at 104,653.34 points and N65.707 trillion respectively.

This saw telecom giant, MTN Nigeria, including 55 other quoted companies, experienced losses in the past week.

According to data, a total of 2.09 billion units of shares were traded in 64,612 deals, valued at around N53 billion.

The market closed closed on the negative zone, seeing 56 stocks in red Week-on-Week (WoW) while 27 stocks were on green.

On the gainers chart led by VFDGROUP saw 53.86% growth, closing at N87.70 from the previous close of N57.00.

UNIONDICON, ABBEYBUILDING, FTNCOCOA and TOTAL Energy saw their share prices up by 31.03%, 29.60%, 18.75% and 9.61% respectively.

Furthermore, on the gainers chart, International Energy Insurance share price was up 9.33%, Livestock Feeds 7.83%, THE INITIATES PLC 6.62%, NGXGROUP 6.16% and JAPAULGOLD 5.79% respectively.

Meanwhile, Royal Exchange topped the losers chart with 20.79% of its share price closing at N0.80 from the previous close of N1.01.

Also, Cornerstone Insurance, Sovereign Trust Insurance, LASACO and CAP PLC lost 15.15%, 15.00%, 12.82% and 11.70% respectively.

Other losers include RTBRIESCO (11.67%), May & Baker (10.83%), HMCALL (10.00%), ABC Transport (10.00%) and UHOMREIT (9.95%) respectively.