Nigerian Exchange Sheds N152bn as MTNN, Transcorp Slump
The Nigerian Exchange, NGX, shed about N152 billion from its opening market capitalisation on Friday as investors dumped MTN Nigeria, Transcorp, due to negative sentiment.
The Nigerian equity market closed the week in negative territory, bringing the year-to-date return to 3.51%. NGX key performance market indicators fell by 0.23% on the last trading day.
The local bourse downturn was primarily driven by profit-taking in some medium- and large-scale stocks amidst downbeat sentiment. The Nigerian Exchange All Share Index decreased by 1,282.79 basis points today, representing a drop of 1.19% to close at 108,053.52.
Trading activities in the local bourse declined as the total volume and total value trades decreased by 7.06% and 4.42%, respectively. In its note, Atlass Portfolios Limited told investors that approximately 349.19 million units valued at ₦9,735.58 million were transacted across 11,911 deals.
In terms of volume, ZENITHBANK led the activity chart, accounting for 12.13% of the total volume of trades conducted in the equities market, followed by FIDELITYBK (10.34%), ACCESSCORP (9.06%), UBA (6.90%), and TANTALIZER (6.64%), rounding out the top five.
ZENITHBANK also emerged as the most traded stock in value terms, accounting for 21.08% of the total value of trades on the exchange.
LIVESTOCK topped the advancers’ chart for today with a price appreciation of 9.87 percent, trailed by HONYFLOUR (+9.80%), EUNISELL (+9.69%), MAYBAKER (+9.66%), TANTALIZER (+9.28%), RTBRISCOE (+8.33%) and twenty-six others.
Eighteen stocks depreciated, according to NGX trading records. IKEJAHOTEL was the top loser, with a price depreciation of -9.70%, trailed by TRANSCORP (-9.46%), CAVERTON (-5.80%), CHAMPION (-5.00%), MTNN (-3.18%), and FIDELITYBK (-1.99%).
Today, the market breadth closed positive, recording 32 gainers and 18 losers. Also, the market sectoral performance was positive, as three of the five major market sectors were up.
The insurance sector advanced by 1.27%, followed by the consumer goods sector, which rose by 0.42%, and the banking sector surged by 0.12%, while the Oil & Gas sector dropped by 0.09%. The industrial sector closed unchanged.
Overall, equities market capitalization of the Nigerian Exchange lost N151.62 billion to close at ₦66.72 trillion. #Nigerian Exchange Sheds N152bn as MTNN, Transcorp Slump Moroccan Ambassador Seeks Partnership with Abuja
