Stock market sheds N884b amidst profit taking in 63 stocks

Date:

July 13, 2023.

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Azonuchechi Chukwu.

Nigerian stock market on Wednesday shed N884 billion admits profit taking in 63 stocks as the All Share Index dropped by 2.47% to close at 64,046.93 points from the previous close of 65,669.29 points.

The Market Capitalisation dropped by 2.47% to close at N34.874 trillion from the previous close of N35.758 trillion, thereby shedding N884 billion.

An aggregate of 1.16 billion units of shares were traded in 13,878 deals, valued at N12.7 billion.

The Market Breadth closed negative as 12 equities emerged as gainers against 63 equities that declined in their share prices.

Percentage Gainers

DEAPCAP and COURTVILLE led other gainers with 10.00% growth each to close at N1.85 from the previous close of 1.73.

Golden Guinea Breweries and THE INITIATIVE among other price decliners also shed their share prices by 9.88% and 9.80% respectively.

Percentage Losers

VERITAL KAPITALS, Academy Press, ABC Transport, TRANSCORP, ETRANZACT, FBNH, Nem Insurance, Prestige Assurance and Tantalizer led price decliners chart as they shed 10.00% each of their share prices ahead of other 54 stocks that also closed the day lower.

Volume Drivers

JAPAULGOLD traded about 110 million units of its shares in 438 deals, valued at N147.7 million.

UBA traded about 177 million units of its shares in 1,064 deals, valued at N2.4 billion.

TRASCORP traded about 87 million units of its shares in 498 deals, valued at N380.7 million.(www.naija247news.com).

Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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