NGX Loses N440bn as Dangote, MTN Shares Fall

NGX Loses N440bn as Dangote, MTN Shares Fall

The equities segment of the Nigerian Exchange (NGX) lost N440 billion on Tuesday over profit-taking activities on shares of Dangote, MTN Nigeria and Guinness.

Consequently, the Nigerian Exchange All-Share Index declined by 1.8% to close at 43,461.60 points amidst cold sentiment. Then, the year-to-date gain of the local bourse plummeted to 1.74% as the total number of losers outweighed that of the gainers.

According to trading charts, the local bourse recorded 19 losers, outpacing a total of 12 gainers at the end of the session. The total volume traded increased by 142.0% to 249.91 million units, valued at N2.50 billion, and exchanged in 3,283 deals.

ACCESSCORP was the most traded stock by volume and value at 128.73 million units and N1.03 billion, respectively.

GUINNESS’s share price declined by 10.0%, being the maximum allowable share price per day. The brewer’s stock was followed by CUSTODIAN which shed 9.3%. Read: Fixed Income Market Trades Quiet as Naira Loses Weight

DANGCEM was hit by selloffs that plunged its share price down by 8.33%. Meanwhile, MTNN also lost 2.04%, and ZENITH BANK dipped by 0.50%. Data from the local bourse showed that UNITYBNK gained 10.0% and THOMASWY popped higher by 8.6%, to lead the gainers’ list. 

JAIZBANK’s share price rose by 6.38%, FIDSON was up by 5.76%, and GEREGU gained 5.09% along with seven other companies’ stocks. Industrial Goods dropped by 3.9%, Insurance index declined by 1.3%.

Also, the Consumer Goods index lost 0.6% and the banking index fell 0.2%. On the other hand, the Oil & Gas index rose 0.6% to become the sole gainer for the day.

The market capitalization also lost ₦440.00 billion, representing a decline of -1.82% to close at ₦23,672.37 trillion from ₦24,112.37 trillion yesterday.  However, market activities were up, as the total volume and total value traded for the day increased by 142.00% and 16.97% respectively. #NGX Loses N440bn as Dangote, MTN Shares Fall