The All Share Index decreased by 626.14 absolute points, representing a dip of 1.16 per cent to close at 53,124.63 points. Similarly, the market capitalisation lost N341 billion to close at N28.940 trillion.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Dangote Cement, UAC of Nigeria , Fidson Healthcare, United Capital and Dangote Sugar Refinery. On market outlook, GTI Securities Limited said: “investors continue to be conservative and sway towards safe stocks, as the stock market awaits the dividend announcement by quoted companies.”
However, market breadth closed positive, with 16 gainers versus nine losers. PZ Cussons Nigeria recorded the highest price gain of 9.6 per cent to close at N11.400, per share. International Energy Insurance followed with a gain 9.24 per cent to close at N1.30, while Multiverse Mining & Exploration rose 8.72 per cent to close at N3.24, per share.
FTN Cocoa processors went up by 7.69 per cent to close at 28 kobo, while Regency Alliance Insurance appreciated by 6.90 per cent to close at 31 kobo, per share. On the other hand, Chams Holding Company led the losers’ chart by 8.00 per cent to close at 23 kobo, per share, per share.
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