Share prices are important in the stock market, this is because they determine where the pendulum will swing.
Investors know this, so they strive for the appreciation of the share price of stocks to avoid recording losses.
Alas! What will be, will surely be.
As we approach new trading, one thing stock market investors will not pray for is to experience another week of losses.
On Friday, 12th April 2024, transactions in the Stock market closed on a negative note.
This is the sixth-day of consecutive bearish sentiment at the Nigerian Exchange Limited (NGX) closed on a negative note.
The All Share Index declined by 0.71%, settling at 102,314.56 from the previous close of 103,047.07.
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Similarly, the Market Capitalisation dropped to ₦57.863 trillion from ₦58.498 trillion where it opened for the week.
So at the close of trade for the week, investors had lost ₦636 billion in 2 trading days.
An aggregate of 734 million units of shares was traded in 12,357 deals valued at ₦21.58 billion
The market breadth closed negative as 12 equities gained while 36 equities declined in share prices.
Gainers And Losers
Transcorp Plc led other gainers with 9.93% growth to close at N14.95 from its previous price of N13.60
Morison Industries, Oando, and Caverton Offshore Plc amongst other gainers also grew their share prices by 9.87%, 9.61%, and 58.54% respectively.
Dangote Sugar Refinery and GTCO Plc led other price decliners as they shed 10% each off their share prices to close at ₦53.10 and ₦41.40.
Flour Mills Nigeria, Multiverse Mining and Exploration, and FTN Cocoa Processors Plc also shed their share prices by 9.87%, 9.84%, and 8.82% respectively.
Volume Drivers
United Bank for Africa (UBA) Plc traded about 148.882 million units of its shares in 1,482 deals, valued at ₦4.010 billion
Zenith Bank Plc traded about 135.810 million units of its shares in 1,152deals, valued at ₦5.484 billion
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Guaranty Trust Holding Company (GTCO) Plc traded about 98.755 million units of its shares in 779 deals, valued at ₦4.131 billion
