The stock market extended its losses to the second trading day of the new month as price decline suffered by MTN Nigeria Communications Plc, Stanbic IBTC Holdings Plc and Guinness Nigeria Plc pulled the Nigerian Stock Exchange All-Share Index down by 0.17 per cent to close at 26,944.32.
However, since trading resumed for the last month of the year, the market has been bearish. It fell by 0.04 per cent on Monday as investors took profit. The bearish trend was sustained yesterday as the NSE ASI fell further by 0.17 per cent to close at 26,944.32, while market capitalisation shed N22.3 billion to close at N13 trillion.
Guinness Nigeria Plc depreciated by 5.0 per cent, just as May & Baker Nigeria Plc shed 4.8 per cent. May & Baker Nigeria Plc recently signed On the positive side, Okomu Oil Palm Plc led the price gainers with 9.8 per cent, trailed by eTranzact Plc with 9.6 per cent. Royal Exchange Plc chalked up 8.3 per cent, while WAPIC Insurance Plc and Jaiz Bank Plc garnered 8.3 per cent and 4.5 per cent respectively.