The stocks of MTN Nigeria, Zenith Bank Plc, Guinness, WAPCO tumble and several other blue-chip companies tumbled at the end of trading session on Thursday as the Nigerian bourse ended the fourth trading session on a negative note.
The All-Share Index plunged by 1.27% to close at 34,577.26 points as against 35.021.26 recorded the previous trading session, while the market capitalization of equities dropped to N18.072trillion as market sentiment threatened in the negative territory.
A total volume of 553.9 million units of shares, valued at N6.63billion, exchanged hands in 6,441 deals. GUARANTY (-2.41%) finished the most traded shares by volume and value at 87.0million units and N2.82billion.
Analyzing sector performances, losses were recorded across all sectors. The Banking index (-4.14%) recorded another loss for the week, as Tier one banking stocks continued to wane.
Decline in MANSARD (-6.14%), AIICO (-5.41%), and NEM (-4.08%) dragged the Insurance index down by -3.72%. Accordingly, the Consumer Goods, Industrial, and Energy indexes followed to depreciate by 0.65%, 0.18%, and 0.08% respectively, on the back of price depreciation in GUINNESS (-9.83%), DANGSUGAR (-6.88%), WAPCO (-10.00%), and OANDO (-6.44%).
The local bourse recorded 40 losers against 6 gainers to begin trading on the negative route.
Okomu Oil led the gainers table, appreciating by 10% to close at N88, followed by Unilever which appreciated by 0.38% to close at N13.05. GLAXOSMITH up 1.52% to close at N6.7 while FTNCOCOA up 8.11% to close at N0.4 and MBENEFIT up 9.09% to close at N0.24.
Meanwhile, WAPCO led the losers table with its share price dropping by 10.00% to close at N20.25. Guinness dropped by 9.83% to close at N16.05 while Dangote Sugar closed at N22 after dropping by 6.88%. ZENITHBANK drops 6.18% to close at N22, MTNN drops 0.77% to close at N155.
Trading activities on the floor of the Nigerian Stock Exchange on Thursday closed on a bearish note following significant losses seen in NSE Stocks that include MTN Nigeria, Zenith Bank, Guinness, WAPCO.
https://any.peopleandpowermag.com/shares-of-mtn-zenith-bank-others-tumble-as-investors-lose-n232-billion/
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