NGX ASI closes down by 0.17%, amid losses on MTNN, NB others
By Philemon Adedeji
Equities market on the Nigerian Exchange Limited (NGX) closed on a bearish sentiments amid losses on MTNN (-0.65 per cent), Nigerian Breweries (NB) (-6.14 per cent) and STANBIC IBTC (-0.13 per cent) which overturned the gains in Zenith Bank (+2.13 per cent), Guaranty Trust Holding Company (GTCO) (+1.32 per cent) and WAPCO Insurance (+1.27 per cent) causing the drag in the market.
The NGX All-Share Index (ASI) dipped by 88.71 basis points representing 0.17 to close at 52,207.77 absolute points from 52,296.48 absolute points it closed for previous trading day.
As a result, the ASI’s year-to-date (YTD) return dropped to 1.87 per cent while the market capitalization shed N48.30billion to close at N28.427 trillion from 28.475 trillion it closed trade on Tuesday.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 2.37 per cent.
A total of 670.08 million shares valued at N5.03 billion were exchanged in 6,254 deals.
TRANSNATIoNAL CORPORATION (led the volume chart with 276.53 million units traded while ACCESS CORPORATION ( led the value chart in deals worth N1.81 billion.
Market breadth closed positive as Ardova oil led the 22 gainers on the leaders table, while Transnational Corporation led 18 losers on the decliners log.
On the gainers chart, Ardova oil led the gainers 9.25 per cent increased to close by N18.30 per share, closely followed by Academy Press which appreciated by 8.90 per cent to close at N1.59 per share, while Cutix plc went up by 8.89 per cent to close at N2.45 per share.
RTBRISCOE which recorded as the last fourth gainer rose by 8.33 per cent to close at N0.26 per share, while Linkages Assurance which recorded as the last fifth gainer grew by 8.16 per cent to close at N0.53 per cent.
On the other hand, Transnational Corporation which emerged as the highest price loser suffered 9.49 per cent loss to close at N2.29 per share, International Energy Insurance which followed lost 8.87 per cent to close at N1.13 per share, while Union Bank of Nigeria dropped by 7.79 per cent to close at N7.10 per share.
First City Monument Bank dipped by 7.28 per cent to close at N3.95 per share, while Nigerian Breweries which recorded as the last fifth loser shed 6.14 per cent to close at N32.85 per share.
