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Nigerian Stocks Lose N238bn After Christmas Holidays



Investors Gain N248bn As NNFM Tops Gainers' Chart

Following the resumption of trading on Wednesday at the Nigerian Stock market, stocks and shares weakened by 1.08 percent or N237.9 billion at the close of business.

Naija News reports that trading resumed for the first trading day since the market closed for the Christmas holidays as declared by the Federal Government.

The trade loss was said to be a result of a few buyers willing to purchase stocks of BUA Cement, MTN Nigeria Communications (MTNN), PZ Cussons, May & Baker and Ecobank Transnational Incorporated.

Specifically, the All-Share Index inched lower by 455.75 points to close at 41,807.10 while the market capitalisation which opened at N22.060 trillion closed at N21.822 trillion.

Also, month-to-date loss increased to 3.3 percent, while the year-to-date gain moderated to 3.8 per cent and market breadth was slightly positive with 18 gainers relative to 16 losers.


NEM led the gainers’ chart by 100 per cent to close at N4.84 after the completion of its share reconstruction exercise. Union Bank added 9.91 per cent to end trade at N6.10.

Royal Exchange went up by 9.09 per cent to N0.84. Sovereign Trust rose to N0.28, notching up 7.69 per cent in the process. AIICO completed the top 5, climbing by 6.86 per cent to N2.18.


BUA Cement led the losers’ chart by 10 per cent to close at N67.05 per share. May & Baker followed by 9.98 per cent to close at N4.06. PZ dipped to N6.10, recording 8.96 percent depreciation.

Jaiz Bank fell to 8.06 per cent to close at N0.57. UPDC REIT closed at N3.75, going down by 6.25 percent.


In all, 180.2 million shares estimated at N1.5 billion were traded in 3,828 deals

Jaiz was the most active stock with 17.7 million units of its shares worth N10.5 million traded in 89 deals. Union Bank transacted 16.8 shares priced at N101.8 million in 296 trades.

UACN traded 12.9 million shares estimated at N123.5 million in 28 transactions. Transcorp traded 11.4 million shares valued at N11.3 million in 134 deals.

Sovereign Trust had 10 million shares valued at N2.8 million traded in 23 deals.

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