NGX opens week with N153 billion loss on MTNN, Nestle loses
Trading in the domestic bourse resumed for the week on Monday with bearish sentiments due to profit taking in bellwether stocks MTNN and Nestle.
Specifically, the market capitalisation lost N153 billion or 0.71 per cent to close at N21.471 trillion from N21.624 trillion on Friday.
Also, the All-Share Index dipped 293.48 points or 0.71 per cent to close at 41,144.67 against 41,438.15 posted on Friday.
Accordingly, the month-to-date and year-to-date return settled at 2.3 per cent and 2.2 per cent, respectively.
The market negative performance was driven by price depreciation in large and medium capitalised stocks which are Nestle, MTN Nigeria Communications (MTNN), FBN Holdings (FBNH), May and Baker and NPF Microfinance Bank.
Consequently, the market breadth closed negative with 21 losers as against 19 gainers.
May and Baker led the losers’ chart in percentage terms by 8.02 per cent to close at N4.36 per share.
Royal Exchange followed with 7.81 per cent to close at 59k, while NPF Microfinance Bank shed 7.57 per cent to close at N1.71 per share.
FBNH declined by 7.48 per cent to close at N11.75, while Mutual Benefits Assurance shed 6.67 per cent to close at 28 kobo per share.
Conversely, the Nigerian Exchange Group dominated the gainers’ chart in percentage terms with 9.86 per cent to close at N19.50 per share.
Ikeja Hotel followed with 9.52 per cent to close at N1.15, while Custodian Investment rose 7.53 per cent to close at N7.85 per share.
Honeywell Flour Mills rose by 6.48 per cent to close at N3.78, while Chams appreciated by 4.55 per cent to close at 23k per share.
In the same vein, the total volume of shares traded dipped by 53.53 per cent with an exchange of 338.72 million shares valued at N4.06 billion exchanged in 5,866 deals.
This was in contrast with a total of 728.96 million shares worth N8.53 billion traded in 4,852 deals on Friday.
Transactions in the shares of FBNH topped the activity chart with 67.615 million shares valued at N832.79 million.
Access Bank followed with 36.62 million shares worth N351.21 million, while Transcorp traded 26.55 million shares valued at N26.62 million.
Guaranty Trust Holding Company (GTCO) traded 25.56 million shares worth N755.25 million, while Fidelity Bank transacted 19.47 million shares worth N53.25 million.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Africa
Xenophobia: Uganda repatriates 1,102 citizens from South Africa
The Ugandan embassy said, “The arrival marks the successful conclusion of phase one of the government of Uganda’s voluntary repatriation exercise.”
NationWide
CSOs urge assessment of National Assembly’s proposed electoral college for women legislators
“The proposal is unfamiliar to many stakeholders and understandably raises concerns, but we must carefully interrogate it instead of dismissing it outright,” he said.
Hot news Home top
Ryanair passenger partly sucked out of Boeing 737 plane as window dislodges after take-off
A witness said a passenger’s head and shoulders were sticking out of the broken window, and fellow passengers managed to pull him back inside the aircraft.
Lagos
LG chairman bans indiscriminate placement of banners, posters at Badagry roundabout
“This will also improve visibility for motorists, prevent obstruction of traffic signs and maintain the aesthetic of one of Badagry’s busiest gateway corridors,” he said.
Economy
Digital payments power Nigeria’s $11.09 billion food service industry: Moniepoint Study
The study projected that the market would reach $19.31 billion by 2030, expanding at an annual rate of 11.73 per cent.
States
LG Poll: Edo police impose statewide movement restriction
The police command in Edo State announced movement restriction from 12:00 midnight to 6:00 p.m. on Saturday as part of measures for the local government election.
