Equities market bows to profit-taking, shed 0.2 per cent

Equities trading at the Nigerian Exchange Limited (NGX), on Monday, was sour as the benchmark index bows to profit-taking.

The local stock market started the week’s trading on a negative note as profit-taking witnessed in MTN Nigeria caused a 0.2 per cent decline in the All Share Index (ASI).

Thus, the NGX ASI settled at 47,203.39 basis points, just as the market capitalisation settled at N25.44 trillion having lost N41.24 billion.

Consequently, the Month-to-Date and Year-to-Date return moderated to +1.2 per cent and +10.5 per cent, respectively.

As measured by market breadth, market sentiment was mixed as 21 tickers gained relative to 22 losers.

On the performance board, SCOA and Prestige Insurance (+9.6%) and PRESTIGE (+7.1%) recorded the most significant gains of the day having appreciated by 9.6 per cent and 7.1 per cent respectively, while Okomu OilPalm and NEM Insurance topped the losers’ list as their respective shares lost 10.0 per cent and 9.6 per cent.

Sectoral performance was broadly negative, as the Oil & Gas, Insurance and Consumer Goods indices declined by 1.5 per cent, 0.8 per cent and 0.4 per cent, respectively; while the Banking index recorded the sole gain having made 1.1 per cent increase. The Industrial Goods index closed flat.

The total volume traded increased by 26.5 per cent to 285.48 million units, valued at N5.13 billion, and exchanged in 5,342 deals.

The shares of Guaranty Trust Holding Company (GTCO) was the toast of Investors as it made the most traded stock by volume and value at 44.93 million units and N1.23 billion, respectively.

YOU SHOULD NOT MISS THESE HEADLINES FROM NIGERIAN TRIBUNE

FALSE! Yoruba Not An Official Language In Brazil

Claim: A national newspaper and multiple online platforms claim Brazil has adopted Yoruba as its official language and that the language would be included in primary and secondary schools curriculum.

Verdict: The claim is false. The content of the article published by these online platforms is not new; it has been recirculated several times and has been debunked.

Equities market bows to profit-taking, shed 0.2 per cent

Viral Voice Note On WhatsApp Billing False

Claim: A viral WhatsApp voice note, purportedly made by the director and CEO of WhatsApp, claims users will have to start paying for WhatsApp services.

Verdict: The viral WhatsApp voice note claim is a hoax. The content is not new and has been circulated as a broadcast message several times in the past.

Equities market bows to profit-taking, shed 0.2 per cent