The bears resurfaced in the Nigerian Exchange Ltd.,(NGX) on Tuesday as a result of profit taking in MTN Federal Republic of Nigeria and 11 other stocks.
Accordingly, the Everything-Share Index declined by 97.07 basis points or 0.19 per cent to close in 51,805.41 from 51,902.48 recorded on Monday.
Consequently, the year-to-date (YTD) return fell to 21.28 per cent.
Similarly, the market capitalisation shed N52.36 billion to close in N27.928 trillion compared with N27,981 trillion posted on Monday.
The market negative performance was driven by profit taking in telecommunication, consumer goods and Tier-1 banks which are MTNN, Nigerian Breweries Company, Zenith Bank and United Bank for Africa(UBA).
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However, the market breadth closed positive with 34 gainers as against 12 losers.
NAHCO led the laggards’ chart by 4.12 per cent to close in N6.51 per share.
Mutual Benefits Assurance followed with 3.85per cent to close in 25k, while Wema Bank was down by 3.73 per cent to close in N3.61 per share.
MTN Federal Republic of Nigeria depreciated by 3.61 per cent to close in N240, while Regal Insurance declined by 3.33 per cent to close in 29k per share.
Conversely, Multiverse Mining and Exploration, MayBaker and Okumu Oil topped the gainers’ chart in percentage terms by 10 per cent each to close in 22k N4.84 and N187 per share, respectively.
Champion up by 9.81 per cent to close in N4.03 while McNicholas appreciated by 9.78 per cent to close in N1.01per share.
Transactions in the shares of Guaranty Trust Bank Holding Company (GTco) topped the activity chart with 51.96 million shares valued in N1.23 billion.
Transcorp followed with 44.33 million shares worth N49.62 million, while First Bank of Federal Republic of Nigeria Holdings (FBNH) traded 14.09 million shares valued in N171.28 million.
Oando traded 13.6 million shares valued in N80.86 million, while Regal Insurance traded 11.98 million shares worth N3.31 million.
In all, the total volume traded depreciated by 1.10 per cent to 331.32 million shares worth N5.04 billion traded in 6,689 deals.
This was against a total of 377.56 million shares valued in N5.55 billion transacted in 7,684 deals on Monday.
The value of transactions declined by 7.95 per cent.(NAN)
The post Trading closes southward on NGX, losses N52bn was posted by anonymous on Pegars.
