Kayode Tokede

The  stock market yesterday extended its losing streak as the major market indicator was down. Y 0.05 per cent.

The Nigerian Exchange Limited All-Share Index (NGX ASI) depreciated by 49.26 basis points or 0.05 per cent to close at 105,426.12 basis points. Also, market capitalisation declined by N31 billion to close at N66.110 trillion.

Investor sentiment, as measured by market breadth closed negative as 22 stocks advanced, while 28 declined. The Initiates Plc (TIP) emerged the highest price gainer of 9.85 per cent to close at N4.46, while Universal Insurance and Mutual Benefits Assurance followed with a gain of 9.09 per cent each to close at 60 kobo and 96 kobo respectively, per share.

Royal Exchange increased by 8.99 per cent to close at 97 kobo, while Learn Africa up by 8.14 per cent to close at N3.32, per share. On the other side, John Holt led the losers’ chart with 10 per cent to close at N7.74, per share. Chams Holding Company followed with a decline of 8.52 per cent to close at N2.04, while Secure Electronic Technology lost 8.47 per cent to close at 54 kobo, per share.

May & Baker Nigeria depreciated by 7.95 per cent to close at N8.10, while UPDC down by 6.90 per cent to close at N2.70, per share.

However, the total volume of trades decreased by 92.65 per cent to 423.618 million units, valued at N9.181 billion, and exchanged in 11,393 deals. Transactions in the shares of Access Holdings led the activity with 64.962 million shares worth N1.431 billion. Zenith Bank followed with account of 41.504 million shares valued at N1.972 billion, while Fidelity Bank traded 40.704 million shares valued at N773.216 million.

Secure Electronic Technology traded 38.420 million shares worth N20.833 million, while Tantalizer traded 31.504 million shares worth N89.914 million.