Livestock Feeds, MTN, Others Drown Stock Market by 0.17%

The loss happened despite investor sentiment remaining bullish and the market breadth index closing positive as the bourse finished with 33 price gainers and 20 price losers led by Livestock Feeds, which shed 9.71 per cent to N7.72.

Further, Multiverse declined by 9.62 per cent to N7.05, McNichols depreciated by 9.47 per cent to N1.72, Omatek slumped by 9.23 per cent to 59 Kobo, and MTN Nigeria shrank by 6.07 per cent to N240.00.

Conversely, Legend Internet gained 10.00 per cent to sell for N8.25, ABC Transport rose by 9.94 per cent to N1.88, Cadbury Nigeria improved by 9.91 per cent to N32.15, Champion Breweries grew by 9.79 per cent to N4.71, and Eterna advanced by 9.46 per cent to N48.00.

Business Post reports that yesterday, the banking sector gained 1.30 per cent, the insurance space appreciated by 0.53 per cent, the consumer goods index expanded by 0.48 per cent, and the energy sector grew by 0.09 per cent, while the industrial goods and commodity indices remained unchanged.

When the market closed for the day, the All-Share Index (ASI) went down by 185.00 points to 105,931.18 points from 106,116.18 points and the market capitalisation was down by N117 billion to N66.577 trillion from N66.694 trillion.

A total of 733.1 million shares worth N35.3 billion were transacted in 16,619 deals compared with the 500.6 million shares valued at N12.1 billion traded in 17,637 deals in the preceding session, indicating a shortfall in the number of deals by 5.77 per cent, and a jump in the trading volume and value by 46.44 per cent and 191.74 per cent, respectively.

Fidelity Bank ended the day as the busiest stock with 285.2 million units sold for N5.8 billion, MTN Nigeria transacted 86.9 million units worth N20.9 billion, Access Holdings exchanged 35.6 million units valued at N851.3 million, Universal Insurance traded 29.8 million units worth N15.2 million, and GTCO traded 28.5 million units valued at N1.9 billion.