The domestic stock market yesterday ended its four-day winning streak with N34 billion loss as investors sold off MTN Nigeria Communications (MTNN) Plc and nine others.
In summary. the All-Share Index (ASI) declined by 61.35 absolute points, representing a drop of 0.13 per cent, to closed at 48,365.14 points. Similarly, the overall market capitalisation value shed N34 billion to close at N26.343 trillion.
The market loss was driven by price depreciation in large and medium capitalised stocks amongst which are; MTN Nigeria Communications (MTNN), Cadbury Nigeria, Capital Hotels, Honeywell Flour Mills and FBN Holdings (FBNH).
However, investor sentiment as measured by market breadth closed positive, as 15 stocks advanced while 10 declined. Chams recorded the highest price gain of 9.09 per cent to close at 24 kobo, per share. R.T. Briscoe Nigeria followed with a gain 7.69 per cent to close at 28 kobo, while PZ Cussons Nigeria went up by 5.50 per cent to close at N11.50, per share. Livestock Feeds rose by 4.50 per cent to close at N1.16, while Ecobank Transnational Incorporated (ETI) gained 2.86per cent to close at N10.80, per share.
On the other hand, Capital Hotel led the losers’ chart by 9.80 per cent to close at N2.76, per share. Honeywell Flour Mills followed with a decline of 9.09 per cent to close at N2.20, while Wapic Insurance lost 8.11 per cent to close at 34 kobo, per share.
Associated Bus Company lost 7.41 per cent to close at 25 kobo, while cadbury Nigeria shed 4.46 per cent to close at N10.70, per share.
The total volume traded increased by 1.3 per cent to 148.158 million units, valued at N2.981 billion, and exchanged in 3,391 deals.
Transactions in the shares of ETI topped the activity chart with 26.357 million shares valued at N281.873 million. FBNH followed with 25.797 million shares worth N278.468 million, while Transnational Corporation of Nigeria (Transcorp) traded 12.887 million shares valued at N14.789 million.
Access Holdings traded 9.610 million shares valued at N81.675 million, while Sterling Bank transacted 9.206 million shares worth N12.650 million.
