The Equities market has sustained its bearish performance for the third day straight this week as investors sold off MTN NIGERIA COMMUNICATIONS PLC stock which declined 10.0%.
To this end, the All-Share index began the Month of December on a major decline of 1.8% or 784.89 basis points, to close at 42,463.16 basis points from 43,248.05 basis points.
The Market Capitalization also fell 1.8% or 410 billion Naira from N22,567 trillion Naira to N22,157 trillion Naira.
Analysis according to Cordros Asset management company states that the total volume of trades however increased by 49.2% to 335.48 million units, valued at N3.55 billion and exchanged in 3,891 deals.
FBN HOLDINGS PLC was the most traded stock by volume and value at 134.00 million units and N1.57 billion, respectively as 23 stocks lost relative to 15 gainers.
MTN NIGERIA COMMUNICATIONS PLC topped the losers with a 10.0% decline, followed by AFRICA PRUDENTIAL PLC which fell 7.7%, while CORNERSTONE INSURANCE PLC led the gainers by 7.7% and AXAMANSARD INSURANCE PLC was next with 7.6%, recorded the most significant gains of the day.
On sectoral performance, the Banking Index fell 1.2%, Consumer Goods Index fell 0.1% and Oil & Gas Index fell 0.1%, while the Insurance Index was the sole gainer by 0.8% even as the Industrial Goods index closed flat.
Bilkisu Pai
