The Nigerian Stock Exchange (NSE) recorded its first loss of the yesterday, shedding N180.8 billion of its capitalization to N15.1 trillion.
Profit taking in MTNN (-2.7%) and DANGCEM (-1.2%) dragged the All-Share Index down 1.2 per cent to 29,633.58 points. Accordingly, YTD return slumped to 9.1% while market capitalisation dipped ₦180.8 billion to ₦15.1 trillion.
Activity level ended mixed as volume traded surged 91.5% to 666.8m units while value traded declined 23.8 per cent to ₦6.5 billion. The most active stocks by volume were UNIONDAC (340.2 million units), ZENITH (69.7 million units) and UBA (38.8 million units) while MTNN (₦1.5 billion), ZENITH (₦1.5 billion and DANGCEM (₦848. billiion) led by value.
Performance across sectors was bearish as all indices lost. The Insurance and Consumer Goods indices waned 2.0 per cent and 1.7 per cent respectively following sell-offs in NEM (-9.7 per cent), CHIPLC (-9.5 percent) and NIGERIAN BREWERIES (-8.8 per cent). Losses in MTNN (-2.7 per cent), UBA (-5.2 per cent) and ZENITH (-1.8 per cent) pulled the AFR-ICT (-1.6 percent) and Banking (-1.1 per cent) indices southward. Also, the Industrial Goods and Oil & Gas indices pared 0.3% and 0.2 per cent respectively following price depreciation in DANGCEM (-1.2 per cent) and OANDO (-3.8% per cent).
