Nigerian Stocks Experience Sharp Decline As Investors Continue To Take Profit

Trading on the floor of the Nigerian stock exchange continued on a downward trend on Thursday as investors continue to take profit.

The stocks which recorded a decline on Wednesday after a bullish run declined further on Thursday closing at a steeper value of N2.1 Billion Naira.

Despite the downward trend, stock of Unity Bank, FTN Cocoa Processors, Universal Insurance, WAPCO and UPDC managed to make some significant profit.

Top Five Gainers

Unity Bank Plc led the gainers on the Nigerian stock exchange closing at N0.59 with a price change of N0.04 as against the opening price of N0.55. FTN Cocoa Processors rose to N0.42 with a 5 percent. Universal Insurance closed at N0.22 gaining 4.76 percent. WAPCO went up by 2.62 percent to N25.50. UPDC completed the top 5, climbing up by 2.42 percent to N1.69.

Symbols
Last Close
Current
Change
%Change

UNITYBANK
N 0.55
N 0.59
0.04
7.27 %

FTNCOCOA
N 0.40
N 0.42
0.02
5.00 %

UNIVINSURE
N 0.21
N 0.22
0.01
4.76 %

WAPCO
N 24.85
N 25.50
0.65
2.62 %

UPDC
N 1.65
N 1.69
0.04
2.42 %

Top Five Losers

Cornerstone Insurance topped the losers’ chart, declining by 8.77 per cent to close at N0.52. Cutix shed 8.06 per cent to close at N5.70. E-Transact Iinternationa fell to N2.05, losing 7.32 per cent. Regency Assurance slumped to N0.41, recording 7.32 per cent depreciation. Lasaco Assurance closed at N1.12, going down by 5.36 per cent.

Symbols
Last Close
Current
Change
%Change

CORNERST
N 0.57
N 0.52
-0.05
-8.77 %

CUTIX
N 6.20
N 5.70
-0.50
-8.06 %

ETRANZACT
N 2.05
N 1.90
-0.15
-7.32 %

REGALINS
N 0.41
N 0.38
-0.03
-7.32 %

LASACO
N 1.12
N 1.06
-0.06
-5.36 %

Top Five Trades

A total of 161.307 million shares estimated at N2.1 billion were traded in 3,574 deals.

First Bank Holdings Shares was the most traded 28.1 million shares valued at N322 million. Transcorp corporation stock traded 23.3 million units of its shares worth N235 million traded. Zenith Bank traded 12.5 million shares priced at N301.2 million. Access Bank traded 9.2 million shares estimated at N86.9 million. Sterling Bank had 8.2 million shares valued at N12.4 million.

Symbols
Volume
Value

FBNH
28155159.00
322074450.80

TRANSCORP
23505886.00
23505977.87

ZENITHBANK
12521490.00
301202590.90

ACCESS
9289303.00
86959543.35