MTNN, Bua Cement, WAPCO halt Nigeria equity market’s gaining streak

Selloff pressure on MTNN, Bua Cement, WAPCO and 11 other stocks ended Nigerian Exchange’s three consecutive gaining streak on Monday.

The benchmark index dipped 0.44% to close at 3 9,306.4 7 points, while the market capitalization lost N91.43bn to N20.49 trillion, worsening market loss to -2.39%.

The total volume and value traded were higher by 62.92% and 22.15% to 357.7 million units and N3.6 billion, respectively.

The most traded stocks by volume were Zenith Bank (52.68million units), FBNH (4 2.4 7million units) and NEM (3 9.4 5million units), while Zenith Bank (₦1.2 5billion), Dangote Sugar (₦368.8 3million) and MTNN (₦313.91million) led by value.

The ICT and Banking sector declined by 0.51% and 0.43% respectively on the back of losses in MTNN (-1.05%) and Wema Bank (-3.30%).

Also, Industrial Goods and Consumer Goods sectors declined by 0.11% and 0.07% respectively on the back of losses in Bua Cement (-1.16%) and ENAMELWA (-9.80%).

However, the Services sector led the gainers, appreciating by 0.77%, driven to buy an interest in CAPHOTEL (+9.09%).

The Healthcare sector followed suit, gaining 0.59% due to buying interest in May & Baker (+1.81%) and the Oil and Gas and Agriculture sectors gained 0.22% and 0.12% respectively.

The top gainers were ETERNA (+9.85%) , ROYALEX (+9.21%), CAPHOTEL ( +9.0 9%) , REGALINS (+8.82%) and Sterling Bank ( +8.1 1%) while ENAMELWA (-9.8 0%) , AFRIPRUD (-6.9 2%), NPFMCRFBK (-6.42%), WEMABANK (-5.1 7%) and MANSARD (-3.3 0%) lost the most.