LASACO, others lead gainers as stock market extends bearish stance

LASACO Assurance, AIICO Insurance, Flour Mill, Oando and Sterling Bank were the best-performing stocks at the close of trading as they recorded significant positive growth in the value of their stocks

The stock market extended its bearish stance for the third time this week as the major market indicator dipped 0.91% to close at 29,110.9 index points while the equity market capitalisation took a bow from its N15 trillion mark to close at N14.99 trillion.

Lasaco Assurance gained 7.69% to close at N0.28 followed by AIICO Insurance, which gained 6.33% to close at N0.84. Flour Mill also gained 5.67% to close at N22.35, Oando gained 2.75% to close at N3.74 while Sterling bank rounded off the list with 2.16% gain to close at N1.89.

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BOC Gases led the list of losers on the bourse on Wednesday as it shed 9.09% to close at N4.5 followed by NEM Insurance, which lost 8.33% to close at N2.2. Mansard Insurance dipped 6.1% to close at N2, Wapic insurance recorded 5.41% reduction in its stock value while UACN rounded off the list with a 5.21% decline to close at N10.

Zenith Bank traded the most on the floor of the Stock Market with trades in 46.57 million units of shares valued at N980.1 million in 414 deals followed by Unilever, which traded 25.01 million units of shares at N375.32 million in 107 deals.

GTBank traded in 24.34 million units of shares valued at N740.24 million in 249 deals as FCMB recorded trades in 21.08 million units of shares at N41.11 million in 61 deals while UBA capped the list with trades in 12.37 million units of shares at N101.99 million in 238 deals.