Nigerian Stock Market Relapses As ENDSARS Protest Continues Across Nigeria

The Nigerian Stock Exchange market closed with 5,132 deals on Monday, October 19, 2020, lower than the 5,652 deals it closed with on Friday, October 16, 2020. The volume reached 287,30 million units at the close of the market on Monday, lower than the 489.11 million units it closed with on Friday.

The value of trades recorded on Monday was NGN3,398 billion, lower than the NGN4,720 billion of Friday.

Meanwhile, on Monday, the All-Share Index reached 28,658.31 index points, lower than the 28,659.45 index points it ended trading with on Friday.

The stock market also ended with a NGN14,979,2 trillion equity capitalisation on Monday.

The market declined following last week Friday's rebound, as ENDSARS protest continues into another week across Nigeria. The 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.

READ ALSO: Steps For N-Power Beneficiaries To Earn Lifetime Income

Although, SARS has been disbanded, with SWAT taking it place, the protesters are not satistfied by the decision, calling for killer police officers to be arrested and prosecuted, as well as the dismissal of Inspector General of Police, Mohammed Adamu.

Top Five Gainers

Conoil led the top gainers' chart after its stock price gained NGN1.4 kobo to close trading at NGN15.8 per share after opening today's trading with NGN14.4 kobo per share, according to the Nigerian Stock Exchange (NSE) market data seen by AllNews.

Guinness was second on the table, as its stock price gained NGN0.8 kobo to close the market with NGN17.65 kobo per share, having started trading today with NGN16.85 kobo per share.

Ardova was the third top gainer as its stock price closed the market with NGN0.7 kobo gain to move from the opening price of NGN12 per share to NGN12.7 kobo per share. International Breweries follows, closing the market with a gain of NGN0.53 kobo to end trading with NGN5.86 kobo per share from the opening share price of NGN5.33 kobo per share.

GTBank was last on the top five gainers' table after its share price rose from NGN30.35 kobo per share to close trading at NGN30.8 kobo per share, after gaining NGN0.45 kobo.

Top Five Losers

On the top of the losers' list is Zenith Bank, which had begun trading earlier today at NGN21.55 kobo per share, only to drop in price by NGN-0.55 kobo to close at NGN21 per share at the end of trading today.

Eterna was second on the chart after closing at NGN4.46 kobo per share from its opening trade price of NGN4.9 kobo per share; this represents a drop of NGN-0.44 kobo. Wapco also recorded a drop in its share price as it declined by NGN-0.35 kobo to close trading at NGN18.5 kobo per share, below the NGN18.85 kobo per share it opened with.

READ ALSO: What Every Nigerian Thinks About Loans And Why It Should Change? By Pelumi Olowoyeye

Maybaker also recorded a drop in its share price as it declined by NGN-0.25 to close trading at NGN3 per share, below the NGN3.25 kobo per share it opened with. Cadbury completed the top five losers chart after it closed trading with NGN7.8 kobo per share, declining by NGN-0.25 kobo from the NGN8.05 per share it opened trading with.

Top Five Trades

AllNews learnt that the top trades in the stock market for today were Zenith Bank, which traded a volume of over 43 million units worth NGN905.35 million. UBA was the second most traded stock today with over 41.76 million units worth over NGN299.12 million. First Bank was next on the list, trading 32.75 million units worth NGN206.33 million.

GTBank was the fourth on the most traded stock list, closing the market with over 32.75 million units traded at a cost of over NGN822.30 million, while Access Bank completed the top five list with over 17.90 million units traded today, worth NGN142.50 million.