Sell-offs in MTNN, FBN Holdings, others draw capitalisation lower, N186bn
By Philemon Adedeji
Yesterday, trading activities on the Nigerian Exchange Limited (NGX) closed bearish halting a four-day winning streak amid selloffs in telco heavyweight, MTNN (-3.44 per cent) alongside First Bank Holding of Nigeria (FBNH) (-4.87 per cent) and WAPCO Insurance (-0.36 per cent) which underpinned the market’s weak performance despite gains in ZENITH BANK (+0.86 per cent), SEPLAT Energy (+10.00 per cent) and STANBIC IBTC (+2.96 per cent).
Similiarly, the NGX All Share Index (ASI) shed 303.86 basis points representing 0.46 per cent to close at 65,687.16 Index points from 65,991.02 Index points it closed for previous trading day.
Consequently, the year-to-date (YTD) return fell to 28.17 per cent, while market capitalisation lost N186.85 billion to close at N35.75 trillion.
The market downturn performance was impacted by price depreciation in medium and large capitalised stocks which includes, Cadbury plc, Unilever plc, MTNN, Champion Breweries, Wapco Insurance and others.
Analysis of yesterday’s market activities revealed trade turnover settled lower relative to the previous session, with the value of transactions down by 3.77 per cent.
The trade volume declined to 500.43 million shares valued at N7.14 billion which were exchanged in 7,345 deals.
United Bank Africa (UBA) (-0.67 per cent) led the volume chart with 58.31 units traded while ACCESS CORPORATION (-4.72 per cent) led the value chart in deals worth N991.20 million.
On the price gainer table, Courtville Business Solution, NCR, Seplat Energy led the gainers with 10.00 per cent each increase to close at N0.66, N3.96, N1,693.60 per share respectively.
FTNcocoa Processor, the fourth gainer rose by 9.92 per cent to close at N2.66 per share.
Japaulgold which recorded as the top fifth gainer went up by 9.90 per cent to close at N1.11 per share.
On the price losers chart, Cadbury Plc led as the most price loser suffering 9.97 per cent loss to close at N2.71 per share, closely followed by 9.62 per cent to close at N0.47 per share, while Multiverse and Mining Evaporation shed 7.45 per cent to close at N3.45 per share.
Omatek Venture which recorded as the last fourth loser went down by 6.90 per cent to close at N0.27 per share.
Champion Breweries which recorded as the last fifth loser depreciated by 6.42 per cent to close at N1.02 per share.
Transactions in the shares of United Bank for Africa topped the activities chart with 58.309 million shares worth N871.358 million, Access Corporation which followed traded 55.244 million shares value at N991.195 million, while Univinsure transacted 32.664 million shares worth N7.638 million.
First Bank Holding of Nigeria traded 28.026 million shares value at N590.512 million.
Zenith Bank accounted 26.476 million shares worth N933.512 million.
