Markets
Dangote Cement, MTNN sustains equity market downtrend
Selloff pressure on Dangote Cement, MTNN and 18 other equities extended the Nigerian Exchange downtrend further on Thursday.
The All-Share Index (ASI) decreased by 319.08 absolute points, representing a drop of 0.81% to close at 39,114.73 points, while the Market Capitalization lost N167.10 billion to close at N20.47 trillion, taking the year-to-date loss to -2.9%.
The volume and value of stocks traded rose 15.4% and 37.4% to 403.5 million units and ₦4.8 billion respectively and the most traded stocks by volume were ACCESS (105.9m units), NEM (38.7m units) and FBNH (35.4m units) while ACCESS (₦844.2m), ZENITH (₦641.8m), and MTNN (₦547.5m) led by value.
The AFR-ICT and Industrial Goods indices declined 2.3% and 1.2% respectively on the back of selloffs in MTNN (-4.7%) and DANGCEM (-2.5%). On the flip side, the Oil & Gas index led gainers as SEPLAT (+10.0%) and TOTAL (+4.5%) appreciated. Similarly, the Banking, Consumer Goods and Insurance indices gained 1.6%, 0.3%, and 0.2% respectively due to price appreciation in ZENITH (+3.1%), DANGSUGAR (+2.0%), and AIICO (+4.9%).
COURTVILLE (+10.0%), CONOIL (+10.0%) and SEPLAT (+10.0%) were the top gainers, while BOCGAS (-10.0%), LIVESTOCK (-9.9%) and SCOA (-9.7%) top the decliners table.
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