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  • Business - Market Data
  • Updated: Oct 14, 2020

Nigerian Stock Market Drags On As Dangote, Elumelu ENDSARS Intervention Fails To Stop Protest

Nigerian Stock Market Drags On As Dangote, Elumelu ENDSARS I

The Nigerian Stock Exchange market closed with 3,896 deals on Wednesday, October 14, 2020, lower than the 4,498 deals it closed with on Tuesday, October 13, 2020. The volume reached 218.42 million units at the close of the market on Wednesday, lower than the 535.83 million units it closed with on Tuesday.

The value of trades recorded on Wednesday was NGN3,138 billion, lower than the NGN5,019 billion of Tuesday. Meanwhile, on Wednesday, the All-Share Index reached 28,344.33 index points, higher than the 28,344.04 index points it ended trading with on Tuesday.

The stock market also ended with a NGN14,815 trillion equity capitalisation on Wednesday, slightly higher than the NGN14,814 trillion of Tuesday.

READ ALSO: How UBA, Standard Chartered Pit Wizkid Against Burna Boy For Profit

The intervention of Dangote Group founder, Aliko Dangote and UBA chairman, Tony Elumelu, in the two weeks-old ENDSARS protest failed to stop the market from dragging its feet as the protest head towards another weekend, and continue to disrupt businesses across Nigeria. Peaceful protesters are 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

Guinness led the top gainers' chart after its stock price gained NGN0.5 kobo to close trading at NGN15.5 per share after opening today's trading with NGN15 per share, according to the Nigerian Stock Exchange (NSE) market data seen by AllNews.

GTBank was second on the table, as its stock price gained NGN0.45 kobo to close the market with NGN30 per share, having started trading today with NGN29.55 kobo per share.

Eterna was the third top gainer as its stock price closed the market with NGN0.43 kobo gain to move from the opening price of NGN4.38 kobo per share to NGN4.81 kobo per share. Wapco follows, closing the market with a gain of NGN0.35 kobo to end trading with NGN17.35 per share from the opening share price of NGN17 per share.

African Prudential was last on the top five gainers' table after its share price rose from NGN5.39 kobo per share to close trading at NGN5.7 kobo per share, after gaining NGN0.31 kobo.

Top Five Losers

On the top of the losers' list is Stanbic IBTC, which had begun trading earlier today at NGN44 per share, only to drop in price by NGN-1.5 kobo to close at NGN42.5 kobo per share at the end of trading today.

Ardova was second on the chart after closing at NGN12 per share from its opening trade price of NGN12.45 kobo per share; this represents a drop of NGN-0.45 kobo. ETranzact also recorded a drop in its share price as it declined by NGN-0.21 kobo to close trading at NGN1.91 kobo per share, below the NGN2.12 kobo per share it opened with.

FCMB also recorded a drop in its share price as it declined by -3.83% to close trading at NGN2.26 kobo per share, below the NGN2.35 kobo per share it opened with. Caverton completed the top five losers chart after it closed trading with NGN1.75 kobo per share, declining by -2.78% from the NGN1.8 kobo per share it opened trading with.

READ ALSO: Dangote, Elumelu Accused Of Prioritising Money Over Youths Killing By SARS, Police

Top Five Trades

AllNews learnt that the top trades in the stock market for today were Zenith Bank, which traded a volume of over 53.04 million units worth NGN1.06 billion. UBA was the second most traded stock today with over 33.46 million units worth over NGN223.40 billion. GTBank was next on the list, trading 25.11 million units worth NGN753.17 million.

First Bank was the fourth on the most traded stock list, closing the market with over 13.67 million units traded at a cost of over NGN84.52 million, while Wema Bank completed the top five list with over 9.10 million units traded today, worth NGN4.96 million.

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