BUA Cement, Guinness, Zenith Bank Drag on Stock Exchange Market

Stock Exchange Market Weighed Upon by BUA Cement, Guinness, Others

The stock exchange market declined by 0.47 percent on Wednesday as more stocks led by BUA Cement, Guinness, Zenith Bank, etc closed in the red.

The market All-Share Index declined by 0.47 percent to settle at 25,215.04 basis points while the market capitalisation of listed stocks declined to N13.153 trillion.

Total shares of 266.649 million valued at N3.183 billion were traded in 3,978 deals during the trading hours of Wednesday.

In terms of volume traded, Guaranty Trust Bank led with 69,410,205 shares worth N1,676,999,939.65. This was followed by MBENEFIT’s 51,762,859 shares valued at N12,392,340.46.

FBNH that disclosed insider dealing of 2 million shares on Tuesday came third with 31,213,625 worth N167,671,815.70. Japaul Oil and Zenith Bank did 18,735,616 and 16,438,691 shares valued at N4,312,661.87 and N274,860,029.25, respectively.

Top Gainers

Okomu oil emerged the biggest gainer on Wednesday with N3 gain to close at N67 per share. Berger, UPDcreit, Neimeth and Guaranty Trust Bank gained 70 kobo, 30 kobo, 21 kobo and 15 kobo to settled at N7.7, N3.8, N2.34 and N24.2, respectively.

Top Losers

BUA Cement that posted a strong first quarter performance on Monday led with N1.7 decline to close at N41.5 per share. This was followed by UACN’s -75 Kobo to N7.7 per share.

Shares of CIleasing plunged by 50 Kobo to settled at N4.8. Guinness and Zenith did 50 kobo and 30 kobo to close at N17.5 and N16.6, respectively.