• Business - Market Data
  • Updated: October 13, 2020

Nigeria's Stock Market Continues To Perform Poorly As ENDSARS Protest Stretches

Nigeria's Stock Market Continues To Perform Poorly As ENDSAR

Nigerian Stock Exchange market closed with 4,498 deals on Tuesday, October 13, 2020, lower than the 4,750 deals it closed with on Monday, October 12, 2020. The volume reached 535.83 million units at the close of the market on Tuesday, higher than the 369.17 million units it closed with on Monday.

The value of trades recorded on Tuesday was NGN5,019 billion, lower than the NGN5,060 billion of Monday. Meanwhile, on Tuesday, the All-Share Index reached 28,344.04 index points, lower than the 28,415.31 index points it ended trading with on Monday.

The stock market also ended with a NGN14,814 trillion equity capitalisation on Tuesday, slightly higher than the NGN14,811 trillion of Monday.

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The value of trade on the capital market fell amid disruption of business activities that continued on Tuesday, by peaceful protesters demanding the end to Police brutality and the scrapping of the Police unit, the Special Anti-Robbery Squad (SARS), known for harassing and killing Nigerian youths.

Top Five Gainers

Stanbic IBTC led the top gainers' chart after its stock price gained NGN1.5 kobo to close trading at NGN44 per share after opening today's trading with NGN42.5 kobo per share, according to the Nigerian Stock Exchange (NSE) market data seen by AllNews.

Nigerian Breweries was second on the table, as its stock price gained NGN0.5 kobo to close the market with NGN49.1 kobo per share, having started trading today with NGN48.6 kobo per share.

International Breweries was the third top gainer as its stock price closed the market with NGN0.41 kobo gain to move from the opening price of NGN4.29 kobo per share to NGN4.7 kobo per share. Eterna follows, closing the market with a gain of NGN0.39 kobo to end trading with NGN4.38 kobo per share from the opening share price of NGN3.99 kobo per share.

Cadbury was last on the top five gainers' table after its share price rose from NGN7.15 kobo per share to close trading at NGN7.25 kobo per share, after gaining NGN0.1 kobo.

Top Five Losers

On the top of the losers' list is GTBank, which had begun trading earlier today at NGN30.3 per share, only to drop in price by NGN-0.75 kobo to close at NGN29.55 kobo per share at the end of trading today.

Custodian was second on the chart after closing at NGN5 per share from its opening trade price of NGN5.25 kobo per share; this represents a drop of NGN-0.25 kobo. ETranzact also recorded a drop in its share price as it declined by NGN-0.23 kobo to close trading at NGN2.12 per share, below the NGN2.35 kobo per share it opened with.

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African Prudential also recorded a drop in its share price as it declined by NGN-0.21 kobo to close trading at NGN5.39 kobo per share, below the NGN5.6 kobo per share it opened with. UBA completed the top five losers chart after it closed trading with NGN6.6 kobo per share, declining by NGN-0.2 kobo from the NGN6.8 kobo per share it opened trading with.

Top Five Trades

AllNews learnt that the top trades in the stock market for today were Regalins, which traded a volume of over 245.79 million units worth NGN49.20 million. GTBank was the second most traded stock today with over 100.31 million units worth over NGN3 billion. UBA was next on the list, trading 32.95 million units worth NGN220 million.

First Bank was the fourth on the most traded stock list, closing the market with over 15.42 million units traded at a cost of over NGN94.98 million, while Transcorp completed the top five list with over 15.35 million units traded today, worth NGN9.87 million.

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