Thursday, February 9, 2023

Investors lose N33 billion amid selloffs in MTN, GTCO, other stocks

The All-share index shed 61.35 points or 0.13 per cent to close at 48,426.49 from 48, 476.49 recorded on Wednesday.

• December 8, 2022
Trading floor
Trading floor

The Nigerian bourse on Thursday relapsed to a bearish mode after four consecutive days of gain. A 0.13 per cent loss was recorded on the trading floor of the Nigerian  Exchange Ltd. (NGX).

Specifically, market capitalisation lost N33 billion or 0.13 per cent to close at N26.343 trillion as against N26.376 trillion posted on Wednesday.

Also, the All-share index shed 61.35 points or 0.13 per cent  to close at 48,426.49 from 48, 476.49 recorded on Wednesday.

The market’s weak performance was due to selloffs in stocks of MTN Nigeria, WAPCO and Guaranty Trust Holding Company (GTCO).

Consequently, the year-to-date (YTD) return fell to 13.22 per cent.

Market breadth closed positive as 12 stocks were on the leaders’ table, while eight were on the laggards’ log.

Chams led the gainers’ chart in percentage terms by 10 per cent to close at 24k per share.

R.T. Briscoe followed with 7.69 per cent to close at 28k, while PZ rose 5.50 per cent to close at N11.50 per share.

Livestock appreciated by 4.50 per cent to close at N1.16, while Ecobank Transnational Incorporated (ETI) garnered 2.80 per cent to close at N10.80 per share.

On the other hand, Capital Hotel dominated the losers’ chart in percentage terms with 9.80 per cent to close at N2.76 per share.

Honeywell Flour Mill followed with 9.09 per cent to close at N2.20, while WAPIC Assurance declined by 8.11 per cent to close at 34k per share.

ABC Transport lost by 7.41 per cent to close at 25k, while Cadbury depreciated by 4.69 per cent to close at 70k per share.

Market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 11.20 per cent.

A total of 148.16 million shares valued at N2.98 billion were exchanged in 3,391 deals. 


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