NGX Sheds N1.6bn as Investors Sell Seplat, MTNN
The Nigerian Exchange (NGX) sheds about N1.6 billion on Thursday as equity investors sell down Seplat, MTN Nigeria and other shares. The selling rallies in the local bourse reversed the two days positive sentiment as market performance indicators dipped marginally by 0.01 percent following profit-taking in some blue-chip stocks.
Market data shows that the Nigerian Exchange All-Share Index shed 6.61 basis points, representing 0.01 percent depreciation to close at 47,102.64 points. Consequently, the equity market capitalisation dipped by ₦1.59 billion to close at ₦25.39 trillion. Both year and month to date return then slowdown.
However, the market activities were mixed as the total volume rose by 12.41 percent, while the total value dipped by 21.58 percent with the bearish trading session.
Approximately 357.76 million units valued at ₦6.48 billion were transacted in 4,251 deals, stock traders at Atlass Portfolios Limited said in a market report. Today, GTCO led as the most traded stock in terms of volume, accounting for 36.38 percent of the total volume of trades, according to traders note.
The financial service stock was followed closely by UCAP (8.46%), FIDELITYBK (7.41%), ACCESS (4.57%) and FCMB (4.00%) to complete the top five on the volume chart.
While GTCO emerged as the most traded stock in value terms, with 52.70 percent of the total value of trades on the exchange.
NNFM and RTBRISCOE topped the advancers’ chart with a maximum price appreciation of 10.00 percent each. These stocks were followed by HONYFLOUR whose share price jumped by 9.91%, NEIMETH inched higher 4.97%, UBN advanced 2.48%, DANGSUGAR rose 1.67%, and WAPCO gained 1.54%.
In addition, GTCO share price appreciated by 1.15%, FBNH increased by 0.88%, UBA up 0.59%, ACCESS share was lifted 0.48%, UNILEVER surged 0.36% and twenty (20) others. On the other hand, seventeen (17) stocks depreciated, led by CWG with a price depreciation of 9.76 percent to close at ₦1.11.
SEPLAT Plc share price tumbled 5.88%, CHAMS lost 4.55%, FCMB dipped 4.15%, ETERNA declined 1.94%, AFRIPRUD shed 1.52%, and NGXGROUP was priced down by 1.20%.
ZENITH BANK share price declined by 0.19%, and MTNN valuation was lower by 0.10%. However, the market breadth closed positive, recording 32 gainers and 17 losers. Read: Reversed FX Adjustment Prompts Confusion over Naira Valuation
Market data shows that sectorial performance was bullish as four of the five major sectors closed positively compared to the previous session. The segment was led by Insurance (0.54%), Banking (0.36%), Consumer Goods (0.22%) and Industrial Goods (0.11%), save for the Oil & Gas sectors that declined by 3.08%. #NGX Sheds N1.6bn as Investors Dump Seplat, MTNN
Read: T-Bill Sheds 32 Basis Points as CBN Fails to Float Auction
The post NGX Sheds N1.6bn as Investors Dump Seplat, MTNN appeared first on Swordpress Nigeria .