Sunday, February 5, 2023

NGX shed N183 billion amid sell offs in MTN, First Bank, Zenith, other stocks

NGX shed N183 billion amid sell offs in MTN, First Bank, Zenith, other stocks

• June 15, 2022
Trading floor
Trading floor

The stock market closed on Wednesday negative as the market capitalisation decreased by N183 billion to N28.451 trillion from N28.634 trillion.

The All Share Index (ASI) also declined by 0.64 per cent to 52,775.40 points from 53,114.65 points recorded on Tuesday.

The decline was attributed to sell offs in MTN Nigeria stocks, and some Tier-1 bank stocks; First Bank of Nigeria Holdings (FBNH), Zenith Bank and Union Bank.

Consequently, the year-to-date (YTD) return fell to 23.55 per cent.

Market breadth closed negative as 26 stocks were on the laggard’s log while 11 on the leaders table.

Breakdown of the price movement chart shows that Tripple G recorded the highest gain to lead the gainers’ chart with 9.20 per cent to close at 95k per share.

LearnAfrica trailed with 5.49 per cent to close at N2.50 while Unity Bank rose by 2.13 per cent to close at 48k per share.

AIICO also rose by 1.56 per cent to close at 65k while Livestock  inched up by 1.33 per cent to close at N1.52 per share.

On the other hand, Meyer led the losers’ chart, dropping by 10 per cent to close at N2.79 per share.

Linkage Assurance dropped by 8.93 per cent to close at 51k, while Union Bank Insurance dipped by 7.69 per cent to close at N6 per share.

International Breweries  lost by 6.12 per cent to close at N6.90 while FBNH dipped by 5.71 per cent to close at N9.90 per share.

Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions declining by 23.76 per cent.

A total of 188.1billion units of shares valued at N2.36bn were exchanged in 4,890 deals.

UBA was the toast of investors, accounting for 36.42 million shares valued at N278.56 billion.

Guaranty Trust Holding Company (GTCo) came second with 24.39 million shares worth N531.3 million, while FBNH  sold 17.62 million shares valued at N175.82 million.

Sterling Bank accounted for 14.28 million shares worth N21.91 million, while Zenith Bank transacted 12.84 million shares valued at N286.83 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

Flooding in Bayelsa

NationWide

Rainy Season: Edo, Delta, Bayelsa express readiness to mitigate flooding

The Nigerian Meteorological Agency says Nigerians would suffer flash and riverine flooding in 2023, especially those living in floodplain areas.

Heavy food

Health

Eat less hot, heavy food during hot season, expert warns Nigerians

The expert said eating hot foods could compound situations for the body, whose temperature is often high during the period.

POS machine

Health

Kaduna Internal Revenue Service insists on e-payment in public hospitals

KADIRS said that it would soon provide more Point of Sale (PoS) terminals in all public hospitals to ease payment of revenue.

Johnson Suleman

Politics

Apostle Suleman tasks Nigerians on photo, video evidence to forestall rigging of 2023 elections

The clergyman said to protect their votes, Nigerians must take photos and record events at their polling units.

Isaac Kekemeke, APC National Vice-chairman for South-West

Politics

Tinubu’s presidential bid is divine project; cannot be truncated, APC chieftain boasts

APC Vice-chairman for South-West, Isaac Kekemeke, said Nigerians with deep thought sees the hand of God in Mr Tinubu’s aspiration.

Charles Udoh, Akwa Ibom Commissioner for Environment and Mineral Resources

States

Akwa Ibom accuses FG of refusing to release ecological funds

The state said it had made several failed attempts to get the attention of the ecological funds office.