Stock Market Closes Week on N244 billion Loss by Investors

The stock market on Friday closed the week with mixed performances as investors lost N244 billion after two days’ gain.

The market capitalisation dropped by N244 billion, or 0.32 per cent, closing at N76.339 trillion, down from Thursday’s N76.583 trillion.

However, the All-Share Index grew by 0.01 per cent, increasing by 12.46 points to settle at 120,989.66 from the previous day’s 120,977.20.

The market breadth closed positive, recording 39 gainers compared to 27 losers by the end of trading.

On the gainers’ chart, Champion Breweries grew by 10 per cent, settling at N13.20 while John Holt also soared by 10 per cent, finishing at N7.70 per share.

Red Star Express increased by 9.99 per cent, closing at N8.37 and UPDC rose by 9.98 per cent, ending the session at N4.74 per share.

Also, Academy gained by 9.98 per cent, closing at N6.17 per share.

On the decliners’ chart, Ellah Lakes dropped by 10 per cent, settling at N8.10 and PZ Cussons also fell by 10 per cent, closing at N32.40 per share.

Ja Paul Gold declined by 9.70 per cent, ending the session at N2.70 while Royal Exchange shed by 9.49 per cent, finishing at N1.24 per share.

Mc Nicholas lost by 8.85 per cent, closing at N2.78 per share. 923.7 million shares worth N11 billion were exchanged across 25,680 transactions, compared to 933.40 million shares worth N29.31 billion that was traded across 24,207 transactions earlier on Thursday.

Transactions in the shares of Ja Paul Gold topped the activity chart with 147.1 million shares valued at N421.62.

WAPIC Insurance followed with 44.53 million shares worth 94.6 million while Access Corporation transacted 43.63 million shares valued at N984.3 million.

Conhall Plc sold 42.81 million shares worth N122.4 million and CHAMS traded 42 million shares valued at N107.89 million.

(NAN)