NGX Investors Lose N93bn From MTN, Oando And Others

Stock Exchange Closes Trading Week With N30bn Gain

Tuesday’s equities market was dominated by a bearish mood, which caused investors to lose N93 billion, or 0.16 percent. The market performance was negatively impacted by losses in a number of declining stocks, including MTN Nigeria, Transnational Corporation, Ecobank Transnational Incorporated (ETI), Royal Exchange, and Oando Plc.

In particular, the market capitalization of Nigerian Exchange Ltd. (NGX), which was initially valued at N56.452 trillion, decreased by N93 billion, or 0.16 percent, to end at N56.359 trillion. In addition, the All-Share Index dropped by 0.16, or 163 points, to end the day at 99,630.51 as opposed to Monday’s closing value of 99,793.71.

As a result, the YTD (year-to-date) return decreased to 33.24 percent. With 29 leaders and 19 laggards, the market breadth finished positively nevertheless. Total Energies led by N35.30 to settle at N388.90 on the gainers’ chart, with Presco Plc following closely behind N29.30 to close at N323.20 per share.

UPDC Real Estate Investment Trust gained 12k to close at N1.33, FTN Cocoa Processors added 11k to close at N1.25, while Chams rose by 16k to close at N1.85 per share.

Conversely, National Salt Company of Nigeria(NASCON) led the losers’ chart by N4.05 to close at N36.80, Thomas Wyatt declined by 17k to close at N1.59 per share. May & Baker dropped 43k to close at N5.60, C&I Leasing Plc trailed by 20k to close at N2.80 and Consolidated Hallmark Holdings shed 6k to close at N1.38 per share.

Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 22.62 per cent.

A total of 848.97 million shares valued at N16.55 billion were exchanged in 8,064 deals, as against 963.54 million shares valued at N13.50 billion exchanged in 8,657 deals traded in the previous session.

Fidelity Bank led the volume and value chart with 293.18 million shares worth N2.93 billion, followed by Nigerian Breweries with 101.58 million shares valued at N2.91 billion. Zenith Bank sold 74.28 million shares valued at N2.57 billion, ETI traded 62.46 million shares worth N1.48 million.

Access Corporation also transacted 51.90 million shares valued at one billion Naira.

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