MTN Nigeria, Dangote cement losses dip equities market further by 0.8%

The Nigerian Exchange (NGX) records a third consecutive decline on Thursday, as investors sold off MTN Nigeria (-4.7%) and Dangote Cement stocks (-2.5%).

Equities investors lost N167.1 billion as the market capitalisation settled at N20.47 trillion as against an opening of N20.64 trillion.
Consequently, the All-Share Index (ASI) moderated by -0.8 percent to 39,114.73 basis points as against an entry of 39,433.31 basis points.

Accordingly, the Month-to-date and Year-to-Date losses increased to -1.8 percent and -2.9 percent, respectively.

Market sentiment as measured by market breadth, was however positive, as 24 stocks gained, relative to 20 losers.

On the performance chart, Conoil and Courville led the other 24 gainers as the value of their respective stocks appreciated by ten percent, while BOC Gas and Livestock led the losers list with respective 1.4 percent and 0.2 percent respectively.

Across sectors, the Oil & Gas, Banking, Consumer Goods and Insurance indices recorded gains by 6.5 percent, 1.6 percent and 0.3 percent respectively, while the Industrial Goods index declined by 1.3 percent.

Trading activities were however impressive as the total volume of trades increased by 15.2 percent to 402.51 million units, valued at N4.81 billion, and exchanged in 4,342 deals.

On Thursday, Access Bank was the most traded stock by volume and value at 105.87 million units and N844.21 million, respectively.

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