Stock market closes red amid sell pressure

The Nigerian equities market closed red on Thursday following sell pressure in the shares of consumer goods sector.
Specifically, the market capitalisation dropped N3 billion or 0.01 per cent to close at N19.729 trillion from N19.732 posted on Wednesday.
Also, the All-Share Index lost 5.65 points or 0.01 per cent to close at 37,866.90 from 37,872.55 achieved on Wednesday.
Thus, the month-to-date and year-to-date losses were 0.1 per cent and 6.0 per cent, respectively.
The loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Nigerian Breweries, Vitafoam Nigeria, Dangote Sugar Refinery, Guaranty Trust Bank Holding Company (GTCO) and Ikeja Hotel.
However, the market closed positive with 18 gainers in contrast with 16 laggards.
Sovereign Trust Insurance drove the gainers’ chart in percentage terms with 10 per cent to close at 33k per share.
FTN Cocoa Processors followed with a gain of 9.76 per cent to close at 45k, while CWG Plc went up by 9.65 per cent to close at N1.25 per share.


Leave a Reply