Continued Decline on NGX as MTN Shares depreciates further

The equities market has continued on its downward trend as the Nigerian Exchange Limited NGX ended Thursday’s trading activities with a 0.

03% decline as continued profit-taking activities on MTNN which fell 0.

4%, undermined the market’s performance.

 
Specifically, the Market Capitalization declined from N22, 050 trillion to N22, 043 trillion, shedding off seven billion naira or 0.

03%.

 
The All-Share Index also declined 0.

03% or 13.

74 basis points to close the day at 42,230.

48 basis points from 42,244.

22 basis points.

 
The total volume of trades increased by 5.

8% to 211.

09 million units, valued at N2.

46 billion, and exchanged in 2,815 deals even as 14 stocks gained while only 11 stocks declined.

 
UACN PLC was the most traded stock by volume at 64.

95 million units and value at N617.

02 million, respectively.

 
GainersTo top the gainers chart today is UNION BANK NIG.

PLC with an upward move from N4.

60k per share to N5.

05k per share, gaining 0.

45k or 9.

78%.

 
ROYAL EXCHANGE PLC grew from 0.

70k per share to 0.

75k per share by 0.

05k or 7.

14%.

 
Next is MUTUAL BENEFITS ASSURANCE PLC, which increased from 0.

30k per share to 0.

32k per share by 0.

02k or 6.

67%.

 
LosersJULIUS BERGER NIG.

PLC declined from N24.

80k per share to N22.

35k per share, losing N2.

45k or 9.

88%.

 
Following right after is UPDC PLC with a fall from N1.

25k per share to N1.

18k per share, falling by 0.

07k or 5.

60%.

And SOVEREIGN TRUST INSURANCE PLC fell from 0.

25k per share to 0.

24k per share by 0.

01k or 4.

00%.

 
Sectoral performance was broadly positive as the Oil & Gas (+1.

1%), Banking (+0.

5%), Insurance (+0.

4%) and Industrial Goods (+0.

1%) indices advanced.

The Consumer Goods index was flat.

 
 
Nneka Ukachukwu
 
Continued Decline on NGX as MTN Shares depreciates further