…Today’s losses was underpinned by decline in MTNN (-6.0%).
…The total volume of trades increased by 53.6% to 324.02 million units, valued at N6.22 billion, and exchanged in 9,738 deals.
…ZENITHBANK was the most traded stock by volume at 36.99 million units, while MTNN was the most traded stock by value at N1.14 billion.
MON AUG 05 2024-theGBJournal| Investors continued with stocks sell off on the Nigerian equities market on Monday, with nationwide protests fueling fears of potential shut down of business activities across the country.
The All-Share Index declined by 0.2% to close at 97,582.41 points, while market capitalization stood at N55.404 trillion with the Month-to-Date and Year-to-Date returns printing -0.2% and +30.5%, respectively.
Today’s losses was underpinned by decline in MTNN (-6.0%).
The total volume of trades increased by 53.6% to 324.02 million units, valued at N6.22 billion, and exchanged in 9,738 deals.
ZENITHBANK was the most traded stock by volume at 36.99 million units, while MTNN was the most traded stock by value at N1.14 billion.
Sectoral performance was mixed, as the Consumer Goods (+0.9%) and Banking (+0.2%) indices recorded gains, while the Industrial Goods, Oil & Gas and Insurance indices closed flat.
As measured by market breadth, market sentiment was mixed (1.0x), as an equal number of tickers (23) gained and lost. CHAMS (-10.0%) and UPL (-9.9%) recorded the highest losses of the day, while SOVRENINS (+10.0%) and PRESCO (+10.0%) topped the gainers’ list.
Meanwhile, the naira appreciated by 0.6% to NGN1,607.15/USD in the Nigerian Autonomous Foreign Exchange Market (NAFEM).
On the protest front, businesses are gradually resuming operations in some states after the initial fears of violence with banks, and other financial institutions running limited schedules.
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