Trade on the Nigerian Exchange Limited (NGX) stock market yesterday was flat as profit-taking by MRS Oil Nigeria and 21 other companies caused the capitalization to drop by N1 billion.
The entire market capitalization value dropped N1 billion to conclude at N30.290 trillion from N30.291 trillion when trading began, while the NGX All-Share Index fell by 1.63 percent or 0.003 percent to close at 55,603.94 basis points from 55,605.57 basis points. As a result, the year-to-date (YTD) decreased to 8.49%.
Price decreases of significant and medium-capitalized firms, notably MRS Oil Nigeria, Multiverse Mining and Exploration, Zenith Bank, NCR Nigeria, and FBN Holdings, were the key reason of the market’s dismal performance (FBNH).
The market breadth was negative as 22 equities dropped opposed to 10 gainers. The largest price increase, 9.62%, was registered by Caverton Offshore Support Group, which closed at N1.14 per share. Wapic Insurance increased by 5.00% to conclude at 42 kobo per share, while UAC of Nigeria (UACN) gained 7.60% to settle at N9.20.
The share price of Chams Holding Company increased by 3.85 percent to end at 27 kobo, while that of AXA Mansard Insurance increased by 4.50 percent to conclude at N2.09. MRS Oil Nigeria, on the other hand, led the losers’ chart by 10% to end at N31.05, while NCR Nigeria was just behind it with a fall of 9.88% to conclude at N2.92 per share.
Cutix and Veritas Kapital Assurance both lost 9.09 percent to settle at N2.00 and 20 kobo per share, respectively, while Multiverse Mining and Exploration fell 9.85 percent to close at N3.57.
The entire amount traded, worth N2.476 billion and swapped in 4,187 trades, surged by 29.07% to 159.460 million units.
Transactions in the shares of Transnational Corporation (Transcorp) topped the activity chart with 14.420 million shares valued at N18.467 million.
Zenith Bank followed with 13.261 million shares worth N344.877 million, while Guaranty Trust Holding Company (GTCO) traded 11.871 million shares valued at N311.013 million.
United Bank for Africa (UBA) traded 11.141 million shares valued at N95.469 million, while Fidelity Bank transacted 10.225 million shares worth N52.520 million.
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