Investors sell off stocks in MTNN, others as NGX-ASI declines by 1.20%

Nigeria’s equities market experienced a decline on Wednesday following sell-offs in MTNN and other companies by investors.

The NGX All-Share Index declined by 1.20 percent to close at 98,121.30 basis points, compared to the previous day’s loss of 0.35% to close at 99,311.54 basis points.

The stock market’s year-to-date (YtD) return also decreased further to 31.22 percent. In 7,907 deals, investors exchanged 395,751,156 shares worth N9.576billion.

The total volume traded declined by 31.10 percent to close at N395.75m, valued at N9.58bn and traded in 7,907 deals. GTCO was the most traded stock by volume and value, with N81.41m and N2.93bn units traded, respectively.

The Gote Index closed flat at 347.33 basis points, while the Toni index declined by 2.49 percent to close at 1,261.32 basis points.

At the close of trading, the market recorded 22 gainers, 19 losers, and 78 unchanged. NEIMETH topped the gainers’ list, while MTNN topped the losers’ list.

Transcorp Hotels led the league of top losers after its share price lowered from N97.70 to N87.93, losing N9.77 or 10 percent. Also, MTNN decreased from preceding day’s high of N224 to N201.60, losing N22.40 or 10 percent.

Likewise, Oando decreased from N10.10 to N9.10, down by N1 or 9.90 percent. FBN Holdings was also down, from N21.90 to N19.75, losing N2.15 or 9.82 percent, while Fidson Healthcare moved from preceding day’s high of N15.90 to N14.35, losing N1.55 or 9.75 percent.

GTCO, Zenith Bank, UBA, FBN Holdings and Access Holdings were actively traded stocks on Wednesday