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Gains from MTN not enough to stop Nigeria’s stock market from shedding N95 billion

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The Nigerian stock market ended today’s trading session bearish, despite MTN posting marginal gains of 0.82%. The losses today were majorly attributable to profit taking, as riskier assets in Nigeria are losing their appeal because investors are running to save in foreign currency in a bid to hedge against Naira devaluation.

The All-share Index (ASI) lost 0.35% from 49,546.38 basis points to close at 49,370.62 basis point. In the same vein, the market capitalization also lost 0.35% to close at N26.63 trillion. Year-to-Date (YtD), the NGX is still one of the top performing markets in the world as is has gained 15.58% so far.

Market breadth closed negative as JAIZBANK led 14 gainers while 15 Losers were topped by UPL at the end of today’s session. On a sectoral level, 3 of the 5 major indices of the Nigerian Exchange closed positive. NGX Banking, Consumer Goods and Insurance indexes gained 0.23%, 0.06% and 0.13% respectively. NGX Industrial and Oil & Gas indexes lost 0.32% and 0.15% respectively.

Market Indices 

  • NGX ASI: 49,370.62 points
  • Previous ASI: 49,546.38 points
  • % Day Change: -0.35%
  • % Y-t-D: 15.58%
  • Market Cap (N): 26.63 trillion
  • Volume: 132,232,997
  • Value (N): 1.63 billion
  • Deals: 3,045

NGX Top ASI gainers

  • JAIZBANK up +5.95% to close at N0.89
  • AIICO up +3.64% to close at N0.57
  • ACADEMY up +1.96% to close at N2.08
  • DANGSUGAR up +1.88% to close at N16.30
  • UPDCREIT up +1.56% to close at N3.25

NGX Top ASI losers  

  • UPL down – 9.95% to close at N1.72
  • IMG down – 9.70% to close at N7.45
  • JAPAULGOLD down – 9.38% to close at N0.29
  • HONYFLOUR down – 8.33% to close at N2.42
  • CHAMS down – 7.41% to close at N0.25

Top 3 by Volume  

  • FBNH – 37,766,388
  • ACCESSCORP – 15,364,265
  • UBA – 9,278,361

Top 3 by Value

  • FBNH – N418,666,335.05
  • GTCO – N181,194,706.00
  • ZENITHBANK – N155,057,045.00

... Gains from MTN not enough to stop Nigeria’s stock market from shedding N95 billion Read More on ... Naijaonpoint.

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