Equities trading on the Nigerian Exchange Limited opened the week on a bearish note, as sell‑offs of MTN Nigeria Communications Plc and 44 others caused the overall capitalisation to close lower by N2.34tn.
Consequently, the All‑Share Index dipped by 3,647.10 points, representing a loss of 1.57 per cent to close at 228,401.92 points. Also, market capitalisation depreciated by N2.34tn to close at N146.57tn.
The negative performance was impacted by losses recorded in medium‑ and large‑capitalised stocks, among which were MTNN, Unilever Nigeria, Lafarge Africa, Cadbury Nigeria, and Nigerian Exchange Group.
As measured by market breadth, market sentiment was negative, as 12 stocks gained relative to 45 losers. UPDC recorded the highest price gain of 9.23 per cent to close at N3.55 per share. Sovereign Trust Insurance followed with a gain of 4.08 per cent to close at N2.04, while Cornerstone Insurance rose 3.45 per cent to close at N6.00 per shar
Neimeth International Pharmaceuticals appreciated 3.03 per cent to close at N8.50, while Livestock Feeds went up 1.92 per cent to close at N7.95 per share.
On the other hand, Learn Africa, Unilever Nigeria, and MTNN led the losers’ chart by 10 per cent each to close at N9.00, N126.00, and N747.00, respectively, per share. Austin Laz & Company and Abbey Mortgage Bank followed with a decline of 9.94 per cent each to close at N3.17 and N7.25, respectively, while Universal Insurance lost 9.90 per cent to close at 91 kobo per share.
Meanwhile, the total volume traded advanced 156.4 per cent to 996.47 million units, valued at N43.73bn, and exchanged in 61,813 deals. Transactions in the shares of Ikeja Hotels topped the activity chart with 305.54 million shares valued at N13.21bn.
Access Holdings followed with 289.90 million shares worth N6.62bn, while Dangote Sugar Refinery traded 29.36 million shares valued at N1.89bn.
Chams Holding Company traded 22.01 million shares valued at N87.94m, while Zenith Bank transacted 21.21 million shares worth N2.36bn.
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