The Nigerian stock market closed on Thursday on a bearish note, shedding N3 billion in market value amid mild profit-taking.

The downturn was driven by selloffs in equities, including John Holt, Abbey Mortgage Bank, International Energy Insurance, CHAMS, Tantalizers, and others.

Market capitalisation dipped by 0.002 per cent, falling from N129.809 trillion at the opening to N129.806 trillion at the close.

Similarly, the All-Share Index declined by 4.66 points, or 0.002 per cent, to settle at 201,698.89 from 201,703.55 recorded previously.

Consequently, the Year-to-Date return stood at 29.62 per cent.

However, market breadth closed positive, recording 34 gainers against 24 losers. Unilever led the gainers, rising 10 per cent to close at N103.40 per share.

Fortis Global Insurance gained 9.82 per cent to finish at N1.23, while Multiverse Mining rose by 9.81 per cent to N20.15.

Legend Internet advanced by 9.38 per cent to N6.30, while Zichis Agro Allied Industries climbed 9.02 per cent to N14.14 per share.

On the losers’ chart, John Holt declined by 9.91 per cent to close at N15.45 per share.

Abbey Mortgage Bank fell by 9.60 per cent to N8.95, while International Energy Insurance dropped by 6.48 per cent to N3.32.

CHAMS dipped by 5.30 per cent to N3.75, while Tantalizers shed 5.18 per cent to close at N4.03 per share.

Market activity weakened, with total traded volume dropping by 31.33 per cent to 559.98 million shares.

The volume was valued at N19.26 billion across 49,676 deals.

Secure Electronic Technology led the volume chart with 59.69 million shares, accounting for 10.66 per cent of total trades.

Zenith Bank topped the value chart with transactions worth N2.47 billion, representing 12.84 per cent of the day’s total value. 

(NAN)