The All-Share Index (ASI) fell by 0.2% yesterday and losses in numerous blue-chip
stocks— particularly MTN Nigeria Communications (MTNN) Plc and 28
stocks— ensured that the Nigerian Exchange Limited (NGX) maintained its negative
outlook.
The ASI closed at 67,084.95 points yesterday after losing 121.21 points, or 0.2% of its value.
To settle at N36.857 trillion, the market capitalization also decreased by N66 billion.
Price declines of major and medium-sized equities, such as those of Stanbic IBTC Holdings,
MTN Nigeria Communications (MTNN), Flour Mills of Nigeria, CWG, and Guaranty Trust
Holding Company (GTCO), was the primary cause of the slump.
Market mood was negative as shown by the market breadth, with 12 equities rising
compared to 29 falling. At 61 Kobo per share, McNichols closed as the greatest price gainer,
up 8.93 percent.
Oando closed at N8.95 per share, up 4.07%, while UAC of Nigeria (UACN) trailed after with
a gain of 6.09 percent to settle at N12.20. Nestle Nigeria climbed 2.94 percent to conclude at N1,050.00 per share, while Chams Holding Company increased by 3.65 percent to close at N1.99. Conversely, Secure
Electronic Technology topped the losers’ chart, closing at 27 kobo per share after losing
10% of the market.
Thomas Wyatt Nigeria lost 9.84 percent of its value to settle at N4.03 per share, while CWG
followed with a 9.94 percent decline to close at N7.70.
Universal Insurance saw a decline of 8.33 percent to conclude at 22 kobo per share, while
International Breweries saw a 9.78 percent decline to close at N4.15.
There were 5,205 trades with a total volume transacted of 267.654 million units, valued at
N5.111 billion, a decrease of 18.81%.
The activity was dominated by transactions involving Fidelity Bank shares, with 39.831
million shares valued at N326.853 million. Following with an account of 23.500 million shares
valued at N46.416 million, Access Holdings traded 20.556 million shares worth N347.746
million. Chams Holding Company came in second.
Japaul Gold and Ventures traded 18.253 million shares for N16.286 million, while United
Bank for Africa (UBA) traded 91.008 million shares worth N347.268 million.
