Stock Market Down 0.32% on Sell-off in MTN, 12 Others – THISDAYLIVE


Kayode Tokede

The stock market of the Nigerian Exchange Limited (NGX) opened the week on a negative note, as sell offs in MTN Nigeria Communications (MTNN) and 12 others depreciated the market by 0.32 per cent.

The NGX All Share Index (ASI) decreased by 138.64 basis points or 0.32 per cent to close at 43,818.12 basis points. Similarly, the market capitalisation lost N75 billion to close at N23.867 trillion.

As measured by market breadth, market sentiment was flat as an equal number of 13 stocks gained and lost.  FTN Cocoa processors recorded the highest price gain of 9.68 per cent to close at 34 kobo, per share. Consolidated Hallmark Insurance followed with a gain 6.90 per cent to close at 62 kobo, while AXA Mansard Insurance rose 5.88 per cent to close at N1.62, per share.

Chams went up by 4.17 per cent to close at 25 kobo, while Union Bank of Nigeria (UBN) appreciated by 3.48 per cent to close at N5.95, per share.

On the other hand,…

Source: Thisday Newspaper