MTNN, BUACEMENT and 13 Others Tank Equity Market by 0.06%

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The Nigeria stock market reversed the previous session sentiment to decline by 0.06 percent amidst declines in bellwether stocks such as BUACEMENT, NB, MTNN, and 12 others. Consequently, the All-Share Index dipped 31.07 points, representing a 0.06 percent decrease, and closed at 50,594.97. While the Market Capitalization lost ₦16.76 billion to decline by 0.06 percent and close at ₦27.28 trillion.

→ Meanwhile, the market activities remain mixed, as the Total Volume dipped further by 6.20 percent, while the Total Value rose by 45.69 percent. About 121.16 million units valued at ₦4.17 billion were transacted in 4,369 Deals. MTNN emerged as the most traded stock in terms of volume, accounting for 11.36 percent of the total volume of trades, followed closely by FBNH (8.11%), ZENITHBANK (7.12%), UBA (5.79%), and ACCESSCORP (5.62%), to complete the top five on the volume chart. Also, MTNN appeared as the most traded stock in value terms, with 53.70 percent of the total value of trades on the exchange.

→ LASACO topped the advancers’ list with a price appreciation of 10.00 percent, trailed closely by HONYFLOUR (9.69%), DANGSUGAR (6.25%), WAPCO (6.18%), ARDOVA (4.17%), FLOURMILL (1.64%), MANSARD (1.08%), GTCO (0.25%), and seventeen (17) others. Conversely, fifteen (15) stocks depreciated, topped by LEARNAFRCA with a price depreciation of 10.00 percent, to close at ₦2.34, as NGXGROUP (-2.34%), BUACEMENT (-2.24%), NB (-1.15%), UBA (-0.71%) and MTNN (-0.09%) also dipped in price. As such, the market breadth closed positively, recording 21 gainers and 15 losers.

→ Conclusively, sectoral performance was bearish as three of the five sectors closed negatively compared to the previous session, led by Industrial Goods (-0.45%), Banking (-0.32%), and Insurance (-0.09%). While the Consumer Goods and Oil & Gas sectors rose by 0.39% and 0.28%, respectively.