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    FBNH, NESTLE, MTNN and 16 Others Halt Equity Market Uptrend as NGX-ASI Shed 0.71%

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    → The Nigeria equity market halted the four consecutive uptrends as the market performance indicators (NGX-ASI and Market Capitalization) shed 0.71 percent.

    The decline was impacted by profit-taking FBNH, NESTLE, MTNN, amongst others.

    Consequently, the All-Share Index decreased by 293.48 bps, representing a dip of 0.71 percent to close at 41,144.67. While the Market Capitalization lost ₦153.15bn, representing a decline of 0.71 percent to close at ₦21.47 trillion.

    → Similarly, the market activities traded negatively as both the Volume and Value traded declined by 53.53 percent and 52.43 percent, respectively. 338.72 million units of shares worth ₦4.06 billion were transacted from 5,866 Deals.

    FBNH topped the traded stocks in terms of volume, accounting for 19.96 percent of the total volume of trades, maintaining the position as the most trading stock, followed by ACCESS (10.81%), TRANSCORP (7.84%), GTCO (7.55%), and FIDELITYBK (5.75%) to complete the top five on the volume chart.

    Also, FBNH appeared as the most traded stock in value terms, with 20.52 percent of the total value of trades on the exchange.

    → NGXGROUP led the gainers’ chart to emerge as the most profitable stock, with price appreciation of 9.86 percent, trailed by CUSTODIAN (7.53%), AFRIPRUD (4.51%), FCMB (2.94%), WAPCO (2.70%), STANBIC (1.28%), ETI (0.72%), ZENITHBANK (0.61%), BUACEMENT (0.52%), OKOMUOIL (0.32%) and 9 others.

    On the contrary, 21 stocks declined in price led by MAYBAKER with price depreciation of 8.02 percent to close at ₦0.4.36, as FBNH (-7.48%), NESTLE (-5.07%), WEMABANK (-5.06%), MTNN (-2.86%), UCAP (-2.03%), and DANGSUGAR (-0.28%) also follow suit. In conclusion, the market breadth closed significantly negative, recording 19 gainers and 21 losers.

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