Sell-offs in Airtel Africa, MTNN, others draw stock market to N621bn
By Philemon Adedeji
Opening the week yesterday, stock market closed on bearish sentiments amid selloffs in Index heavyweights, Airtel Africa (-8.31 per cent), MTNN (-1.27 per cent) and Seplat Energy (-4.17 per cent) and 19 others draw stock market lower to N621 billion.
Absolutely, the Nigerian Exchange Limited (NGX), All-Share Index (ASI) closed by 1,141.76 basis points or 2.08 per cent to close at 53,750.77 Index points from 54,892.53 Index points it closed trade on Friday.
Consequently, the ASI’s year-to-date (YTD) return fell to 4.88 per cent, while the market capitalisation value shed N621.99 billion to close at N29.28 trillion.
The breakdown of yesterday’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 12.11 per cent.
The trade volume declined to 100,882,822 million shares worth N4.342 billion were exchanged in 3,279 deals.
Guaranty Trust Holding Company (GTCO) led the volume chart with 12.84 million units traded, while MTNN led the value chart in deals worth N1.93 billion.
The market sentiments as measured by market breadth closed negative as Courtville Business Solution led five (5) gainers on the leaders chart, while NCR led 21 losers on the laggards.
On the Positive side, Courtville Business Solution came as the highest price gainer which appreciated by 6.67 per cent to close at N0.48 per share, NPF Microfinance bank which followed went up by 2.70 per cent to close at N1.90 per share, while AIICO Insurance which recorded as the last third gainer rose up significantly by 1.75 per cent to close at N0.58 per share.
First Bank Holding of Nigeria which recorded as the last fourth gainer grew by 0.92 per cent to close at N11.00 per share, while Zenith Bank which recorded as the last fifth gainer appreciated by 0.20 per cent to close at N25. 00 per share.
On the Negative side, NCR led as the highest price loser which shed 9.79 per cent to close at N2.12 per share, followed by Unity bank which depreciated by 9.43 per cent to close at N0.48 per share, while Prestige Assurance which recorded as the last third loser declined by 8.89 per cent to close at N0.41 per share.
Sunu Assurance which recorded as the last fourth loser suffered 8.33 per cent loss to close at N0.44 per share, while Multiverse and Mining Evaporation which recorded as the last fifth loser went down by 8.31 per cent to close at N2.98 per share.
Transaction in the shares of Guaranty Trust Holding Company topped the activities chart with 12.835 million shares worth N318.512 million, Zenith Bank which followed exchanged 11.919 million shares valued at N297.981 million, while United Bank of Africa (UBA) transacted 10.038 million shares worth N80.241 million.
MTNN accounted 8.264 million shares worth N1.926 billion, while First Bank Holdings of Nigeria traded 7.718 million shares worth N84.576 million.
