Bellwether stocks drag Nigerian equity market down 0.02%

Selloffs in MTNN and some other bellwether equities dragged the Nigerian capital market down by 0.02% on the first trading day of the week. 

The All-Share Index declined by 0.2% to close at 47,428.67 points from the 47,437.48 basis points obtained on Friday last week, and the market capitalization also declined from 25,566 trillion Naira to 25,561 trillion Naira.

The total volume of trades increased by 11.0% to 1.28 billion units, valued at N7.92 billion, and exchanged in 4,735 deals.

FCMB GROUP PLC was the most traded stock by volume and value at 1.02 billion units, and N3.84 billion, respectively.

As measured by market breadth, market sentiment was negative as 22 tickers lost relative to 19 gainers.

The top gainer for the day was R T BRISCOE PLC, leading by an upward move from a previous selling price of 0.73k per share to 0.80k per share, by 0.07k or 9.59%.

It was followed by ECOBANK TRANSNATIONAL INCORPORATED, appreciating from N11.73k per share to N11.80k per share, by 0.80k or 7.27%.

PRESTIGE ASSURANCE PLC was next, gaining 0.03k or 6.52% from 0.46k per share to 0.49k per share.

On the losers’ table, however, ETERNA PLC led with a fall from N5.60k per share to N5.04k per share by 0.56k or 10.00%.

CWG PLC was right after with a 0.11k or 10.00% loss from N1.10k per share to 0.99k per share, while ROYAL EXCHANGE PLC dropped from N1.21k per share to N1.09k per share by 0.12k or 9.92%

Meanwhile, performance across sectors was mixed, as the Insurance (-1.9%), Consumer Goods (-0.4%), Oil & Gas (-0.3%) indices declined, while the Banking (+1.2%) and Industrial Goods (+0.1%) indices recorded gains. (VON)