Stock market plunges by 0.18% as MTN, others shed weight

The stock market on Tuesday closed on a bearish note, occasioned by profit taking in MTN Nigeria and 23 other stocks.

The All Share Index declined by 0.18% to close at 103,952.47 points from the previous close of 104,136.35 points.

The Market Capitalisation closed at N58.776 trillion, down by 0.18% from the previous close of N58.880 trillion, thereby shedding N104 billion.

An aggregate of 374 million units of shares were traded in 8,689 deals, valued at N11 billion.

The Market Breadth closed positive as 27 equities emerged as gainers against 24 equities that declined in their share prices.

Percentage Gainers

Abbey Building led other gainers with 10.00% growth, closing at N2.24 from N2.20 it closed last session.

Consolidated Hallmark Holding and JULI among other gainers also grew their share prices by 9.92% and 9.80% respectively.

Percentage Losers

UPDC led other price decliners, shedding 9.87% to settle at N1.37 from the previous close of N1.52.

UCAP, Sovereign Trust Insurance and FTN Cocoa dropped their share prices by 8.75%, 8.33% and 8.00% respectively.

Volume Drivers

GTCO traded about 67 million units of its shares in 645 deals, valued at N3.27 billion.

UBA traded about 51 million units of its shares in 529 deals, valued at N1.37 billion.

Zenith Bank traded about 42 million units of its shares in 531 deals, valued at N1.71 billion

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