By Habibat Aliu
Transactions in the equities sector of the Nigerian Exchange Limited (NGX) reopened on a downturn yesterday, as a sell-off in MTN Nigeria and 12 stocks dragged market capitalisation by N82 billion.
At the close of trading yesterday, the market capitalisation of listed equities declined by 0.34 percent to N23.866 trillion from N23.948 trillion reported the previous day.
The downturn was impacted by losses in medium and large capitalised stocks, amongst which are MTNN, African Prudential, Scoa, United Bank for Africa (UBA), United Capital, and Oando.
The All Share Index also depreciated by 150.63 basis points to 43818.12 points from 43968.75 reported the previous day.
Investors traded 187.094 million shares valued at N2.535 billion in 3326 deals against 209.707 million shares worth N2.166 billion exchanged hands the previous day in 2942 deals.
Analysts at Afrinvest Research said: “Investor sentiment, as measured by market breadth, waned to 0.00x from 0.11x recorded in Friday’s session as 13 stocks advanced, 13 declined while 82 closed flat. We anticipate a modest uptick in the next trading session, driven by attractive valuation in major bellwethers.”
On the price movement chart, JohnHolt topped the losers chart, shedding 9.88 percent to close at 73 kobos while SCOA followed with a loss of 9.71 per cent to close at N1.58 kobo. Prestige Assurance fell by 7.69 per cent to close at 36 kobos. Unity Bank dropped 5.26 kobo to close at 54 kobos. African Prudential declined by 4.67 per cent to close at N5.10 kobo. Japaul shed 3.57 per cent to close at 27 kobos while Royal Exchange depreciated by 3.41 per cent to close at 85 kobos. Oando lost 2.56 per cent to close at N3.80 kobo.
Academy Press dropped 2.50 per cent to close at N1.17 kobo. MTNN declined by 2.40 kobo to close at N187.40 kobo. Linkage Assurance lost 2.38 per cent to close at 41 kobos. UBA also shed 2.08 per cent to close at N7.05 kobo.
FTN Cocoa emerged as the day’s highest price gainer, adding 9.68 per cent to close at 34 kobos while CHI Plc followed with a gain of 6.90 kobos to close at 62 kobos. Mansard appreciated by 5.88 per cent to close at N1.62 kobo. Chams garnered 4.17 per cent to close at 25 kobos. Union Bank of Nigeria added 3.48 per cent to close at N5.95 per share.
FBN Holdings appreciated by 2.44 per cent to close at N10.50 kobo while NGX Group followed by 2.33 per cent to close at N22. May&Baker gained 1.89 per cent to close at N3.77 kobo.
TransNational Corporation added 1.85 per cent to close at N1.10 per share. Sterling Bank garnered 1.42 per cent to close at N1.43 kobo. NEM appreciated by 1.35 per cent to close at N3.75 kobo. Accesscorp also added 1.24 per cent to close at N8.15 kobo
On the activity chart, Access Corp was the toast of investors, accounting for 87.923 million shares valued at N704.474 million, Zenith Bank followed, exchanging 19.323 million shares valued at N385.788 million.
Transnational Corporation of Nigeria traded 10.679 million shares valued at N11.613 million, Unity Bank exchanged 10.175 million shares worth N5.339 million, and NGX group also traded 5.255 million units valued at N112.846 million.
