Nigerian Bourse Resumes Week Negative on MTN, GT Bank Sell-Offs

Nigerian exchange activities began the week on a negative note due to the sell-offs of MTNN, Eternal, Guaranty Trust Bank Company and International Breweries stocks. 

More specifically, the All-Share Index dropped by 0.02 per cent to close at 47,428.67 points, down from 47,437.48 points recorded on Friday.

Also, the market capitalization closed at N25.561 trillion, compared to N25.566 trillion on Friday, a decline of N4 billion.

Accordingly, the Month-to-Date and Year-to-Date returns increased by 0.1 per cent and 11.0 per cent, respectively.

The market ended the day with 23 stocks falling and 19 rising.

In percentage terms, R.T Briscoe led the gainers’ chart with a 9.59 per cent gain to close at 80k per share.

Both Ecobank Transnational Incorporated (ETI) and Prestige Insurance closed higher by 7.27 per cent and 6.52 per cent, respectively.

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Niger Insurance closed at 23k with 4.55 per cent, while Caverton rose 3.85 per cent to close at N1.35.

Mutual Benefits Assurance rose by 3.85 per cent to close at 27k, while NGXGroup gained 3.21 per cent to close at N22.5 per share.

CGW was the clear leader in the losers’ chart by 10 per cent, closing at 99k apiece, while Eternal Oil was down 10 per cent at N5.04 apiece.

The Royal Exchange closed at N1.09 with a 9.92 per cent loss, while Veritas Kapital lost 8.7 per cent to close at 21,000.

SCOA fell 8.13 per cent to close at N2.6, while Cornerstone Insurance fell 8.11 per cent to close at 68k.

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From N7.03 billion in 3,928 deals on Friday, the total volume traded increased by 10.74 per cent to 1.28 million units valued at N7.85 billion, exchanged in 4, 735 transactions.

In contrast, 311.50 million shares worth N4.39 billion changed hands in 4,916 deals on Friday.

Sector performance was mixed, with Insurance flat, Consumer Goods down by 0.4 per cent, and Oil and Gas down by 0.3 per cent.

However, the Banking and Industrial Goods sectors gained 1.2% and 0.1%, respectively.

The volume of trades increased by 11.0 per cent to 1.277 billion units, valued at N7.92 billion, and exchanged in 4,735 trades.

FCMB was the most traded stock by volume and value, with 1.02 billion units and N3.84 billion, respectively.

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 With 38.14 million shares valued at N108.87 million, Fidelity Bank traded next, followed by Zenith Bank with 28.46 million shares worth N768.12 million.

There were transactions worth N23.79 million by Transcorp, while N445.38 million were transacted by Guaranty Trust Bank Holding Company.


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