Many thought that today the stock market would be different but share prices failed to appreciate.
The market closed with bearish sentiment on the last trading day of the week. Investors will have to rejig their strategy if this negative trend will change
At least 20 stocks performed below expectations as their share prices wobbled and fumbled in the market.
There’s nothing more painful for an investor than getting reports of constant losses. It can be overwhelming, traumatising and can also lead to depression.
So for investors who have been recording constant losses in the last 2 weeks, there might be a need to cool off.
Have You Read: Share Price Decline Forces Investors To Lose ₦636bn In 2 Days
Meanwhile, transactions in the stock market once again ended on a sour note as the share price of stocks plummeted.
Stock market on Friday, 19th April 2024, the last trading day of the week closed on a negative note.
The All Share Index declined by 0.31%, settling at 99,539.75 from the previous close of 99,845.91. Similarly, the Market Capitalisation dipped to ₦56.295 trillion.
This brings the year-to-date to 35.00%, the month-to-date to negative 4.01%, and the week-to-date to negative 1.82% respectively.
Meanwhile, an aggregate of 257 million units of shares were traded in 7,034 deals valued at N5.398 billion
The market breadth closed negative as 14 equities gained while 20 equities declined in share prices.
Gainers And Losers
FTN Cocoa Processors Plc led other gainers with 9.60% growth to close at ₦1.37.
R.T. Briscoe, Livestock Feeds, and Royal Exchange Plc grew their share price by 9.26%, 9.02%, and 8.06% respectively.
Unity Bank Plc led other price decliners by shedding 10% off its share price to close at ₦1.62.
The other major decliners were Tantalizers, Deap Capital, and Caverton Offshore Plc they shed 8.57%, 7.35%, and 6.83% share price respectively.
Volume Drivers
UBA Plc traded about 38.715 million units of its shares in 687 deals, valued at ₦880.552 million.
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GTCO Plc traded about 38.296 million units of its shares in 629 deals, valued at ₦1.310 billion
Access Holdings Plc traded about 34.339 million units of its shares in 660 deals, valued at ₦584.536 million
