All-Share Index Dropped Within A Narrow Margin During Mid-Week Trade

The stock market in Nigeria ended its mid-week trade with the All-Share index dropping with a narrow margin in the cynical territory by 0.08 percent.

Stock market analysts forecast that the market index will close bullish a few days to the end of the month trading session.

Gbenga Ogunrinola, Head of capital market interstate securities stated that “activities on the market have been encouraging since the beginning of October, hoping the month’s transactions are wrapped up positively”.

The market capitalization of listed equities depreciated by N12 billion to close at N21,808 trillion showing a 0.06 percent decrease compared to the N21,821trillion recorded on Tuesday.

Similarly, All-Share Index which is a key market indicator dipped marginally by 25.35 basis points representing a 0.06 percent to close at 41,789.59 lower than 41,814.94 of the previous day.

At the end of the day’s trading session, investors saw a total of 284,601,047 million units of share exchanged hands in 5,036 deals.

The market sentiment, as measured by market breadth witnessed 24 gainers and 16 losers at the end of the trading session.

Living Trust led the gainer’s chart with a price gain of N0.07k to close at N0.80k then AIICO Insurance Plc followed with a price gain of N0.09k to close at N1.03k; while UPL gained N0.15 to close at N9.09k.

Alternatively, in the losers’ chart, Glaxosmith lost N0.70k to close at N6.30k. TRANSCOHOT followed with closing of N5.38k after losing N0.59k and FBN Holdings lost N0.75k to close at N11.65k.