Investors today lost N40.7 billion on the stock market, as value of shares (capitalisation) on the Nigerian Stock Exchange (NSE), fell to N14.8 trillion, due to sell-offs in the shares of MTN and Bua Cement.
Similarly, the NSE All-Share Index closed today at 28,337.49 points down by 0.3% and the activity level was mixed as volume traded fell 3.9% to 369.2million units while value traded rose 30.6% to N5.1billion.
The downward trend according to analysts at Afrinvest Securities Limited was due to sell-offs in MTNN (-0.4%), BUACEMENT (-1.5%) and FLOURMILL (-4.5%).
The most traded stocks by volume were UBA (95.1m units), GUARANTY (65.5m units) and ZENITH (47.2m units) while GUARANTY (₦1.9bn), ZENITH (₦944.3m) and UBA (₦678.7m) led by value.
ETERNA led the gainers table with a gain of 9.9%, followed by UNIONDAC with a gain of 8.3% and TRANSCORP with a gain of 4.8% while INTBREW led with a lose of 9.1%, followed by MANSARD with a loss of 5.7% and FLOURMILL with a loss of 4.5%.
The Insurance and Consumer Goods indices lost the most, down 1.8% and 0.9% respectively due to sell offs in MANSARD, a loss of 9.7% and AIICO, a lot of 3.6% as well as FLOURMILL incurring a loss of 4.5% and INTBREW, in a loss of9.1%. Similarly, the Industrial Goods, AFR-ICT and Banking indices declined 0.5%, 0.2% and 0.1% respectively on the back of price depreciation in BUACEMENT at 1.5% loss, MTN, at 0.4% loss and ZENITH, at 0.3% loss.