Equity market declines by N4bn on profit taking

The All–Share Index (ASI) decreased, as a result, falling 7.46 basis points or 0.02 percent, to settle at 47,524.38 as opposed to 47,531.84 registered in the previous trading session.Infomation Guide Nigeria

Additionally, the market capitalization dropped from N25.889 trillion on Wednesday to N25.885 trillion at the end of trading, a loss of N4 billion.

Zenith Bank, Access Holding, and United Bank for Africa stocks were the main factors contributing to the poor performance (UBA).

However, the market’s breadth ended upbeat with 13 gainers and 10 losers.

In the meantime, 3,264 transactions totaling 86.54 billion shares were reported during the trading day.

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Further examination of the trading for the day revealed that Honeywell Flour Mill, with a 9.79% increase to close at N2.13 per share, topped the list of the day’s gainers.

Fidson increased by 7.88% to conclude at N9.17 a share, while Neimeth International Pharma gained 9.52% to close at N1.38.

Additionally, Chams increased by 7.69 cents to close at 28k, while Livestock Feeds increased by 6.8% to finish at N1.10 per share.

In contrast, UACN was the biggest loser, falling 9.76% to settle at N9.25 per share, while Geregu Power lost 9.02% to close at N110 per share.Jamb Result 

To close at 84 kobo per share, LASACO had a 6.67 percent decline.

Conerstone Insurance and Champion Breweries both experienced declines, closing at 52k and N3.48 per share, respectively, down 5.45% and 3.33 percent apiece.

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