Stock Market

Nigerian Stocks Experience Sharp Decline As Investors Continue To Take Profit

Published November 11, 2021 Updated December 5, 2021 at 10:04 PM

ETranzact Tops Gainers’ Table As Investors Lose ₦21.35bn At Stock Market

Trading on the floor of the Nigerian stock exchange continued on a downward trend on Thursday as investors continue to take profit.

The stocks which recorded a decline on Wednesday after a bullish run declined further on Thursday closing at a steeper value of ₦2.1 Billion Naira.

Despite the downward trend, stock of Unity Bank, FTN Cocoa Processors, Universal Insurance, WAPCO and UPDC managed to make some significant profit.

Top Five Gainers

Unity Bank Plc led the gainers on the Nigerian stock exchange closing at N0.59 with a price change of N0.04 as against the opening price of N0.55. FTN Cocoa Processors rose to N0.42 with a 5 percent. Universal Insurance closed at N0.22 gaining 4.76 percent. WAPCO went up by 2.62 percent to ₦25.50. UPDC completed the top 5, climbing up by 2.42 percent to ₦1.69.

Symbols	Last Close	Current	Change	%Change
UNITYBANK	N 0.55	N 0.59	0.04	7.27 %
FTNCOCOA	N 0.40	N 0.42	0.02	5.00 %
UNIVINSURE	N 0.21	N 0.22	0.01	4.76 %
WAPCO	N 24.85	N 25.50	0.65	2.62 %
UPDC	N 1.65	N 1.69	0.04	2.42 %

Top Five Losers

Cornerstone Insurance topped the losers’ chart, declining by 8.77 per cent to close at N0.52. Cutix shed 8.06 per cent to close at ₦5.70. E-Transact Iinternationa fell to ₦2.05, losing 7.32 per cent. Regency Assurance slumped to N0.41, recording 7.32 per cent depreciation. Lasaco Assurance closed at ₦1.12, going down by 5.36 per cent.

Symbols	Last Close	Current	Change	%Change
CORNERST	N 0.57	N 0.52	-0.05	-8.77 %
CUTIX	N 6.20	N 5.70	-0.50	-8.06 %
ETRANZACT	N 2.05	N 1.90	-0.15	-7.32 %
REGALINS	N 0.41	N 0.38	-0.03	-7.32 %
LASACO	N 1.12	N 1.06	-0.06	-5.36 %

Top Five Trades

A total of 161.307 million shares estimated at ₦2.1 billion were traded in 3,574 deals.

First Bank Holdings Shares was the most traded 28.1 million shares valued at ₦322 million. Transcorp corporation stock traded 23.3 million units of its shares worth ₦235 million traded. Zenith Bank traded 12.5 million shares priced at ₦301.2 million. Access Bank traded 9.2 million shares estimated at ₦86.9 million. Sterling Bank had 8.2 million shares valued at ₦12.4 million.