Investors Dumps MTNN, 22 Others as Equities Market Kick-Start December in Bearish Sentiment


The Nigeria equities market kins-starts the last month on 2021 on a bearish note as investors dumped MTNN and 22 other stocks.

Today’s decline drove the market index below 43,000 points and the market year-to-date at 5.44%.

Consequently, the market index (All-Share Index) dipped by 784.89 basis points, representing a decline of 1.81 percent to close at 42,463.16.

While the Market Capitalization lost ₦409.56Bn, representing a decrease of 1.81 percent to close at ₦22.16 trillion.

→ In the meantime, the market activities were mixed as the Total Volume traded climbed by 49.16% while the Total Value traded dipped by 4.20 percent.

A total of 335.48 million units valued at ₦3.55 billion were transacted in 3,891 Deals. FBNH led the traded stocks in terms of volume, accounting for 39.94 percent of the total volume of trades, followed closely by UNIVINSURE (10.79%), ZENITHBANK (5.47%), GTCO (4.05%), and TRANSCORP (3.14%) to complete the top five on the volume chart.

Also, FBNH emerged as the most traded stock in value terms, with 44.30 percent of the total value of trades on the exchange.

→ Of the traded stocks today, CORNERST appeared as the most profitable stock to lead the advancers’ chart with a price appreciation of 7.69 percent, followed by CHAMS (5.00%), NGXGROUP (3.66%), LIVESTOCK (1.96%), WEMABANK (1.27%), NB (0.65%), WAPCO (0.60%), UCAP (0.52%), FBNH (0.42%), ZENITHBANK (0.21%) and five (5) others.

Conversely, 23 stocks depreciated in price topped by MTNN with price depreciation of 10.00 percent to close at ₦171.00, as AFRIPRUD (-7.69%), ACCESS (-5.26%), ETI (-1.80%), TRANSCORP (-1.03%), FLOURMILL (-0.85%), OANDO (-0.63%), UBA (-0.62%) and NASCON (-0.35%) also dipped in price.

In that regard, the market breadth closed largely negative, recording 15 gainers and 23 losers.

→ Accordingly, the sector performance was relatively negative, as three of the five major sectors closed negatively, led by the Banking (-1.15%), Consumer Goods (-0.14%) and Oil & Gas (-0.12%).

While the Insurance (0.77%) and Industrial Goods (0.04%) sectors grew as against the previous session.