Trading on Nigerian stock market closes flat

Salamatu Ejembi, Lagos Salamatu Ejembi, Lagos

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Wednesday’s trading on the floor of the Nigerian Exchange Limited, NGX ended with mixed sentiments with losses in heavyweight shares MTN NIGERIA COMMUNICATIONS PLC (-0.09%), GUARANTY TRUST HOLDING COMPANY PLC (-0.97%) and ECOBANK TRANSNATIONAL INCORPORATED (-2.73%).

 

These losses offset the gain in FBN HOLDINGS PLC (+1.79%), DANGOTE SUGAR REFINERY PLC (+1.88%) and ZENITH BANK PLC (+0.23%). 

 

Thus, the benchmark index barely changed with a 1.5 basis points loss to close at 51,802.48 points when compared with Tuesday’s close of 51,803.98 basis points.

 

Similarly, the market capitalization shed a meagre ₦1bn to close at ₦27.927trn from previous close of ₦27.928trn.

 

Analysis of Wednesday’s market activities showed the total volume of trades closing at 416.47 million units, valued at ₦3.46 billion, and exchanged in 4,466 deals. 

 

MUTUAL BENEFITS ASSURANCE PLC was the most traded stock by volume at 212.51 million units of shares traded while GUARANTY TRUST HOLDING COMPANY PLC was the most traded by value at ₦867.54 million.

As measured by market breadth, market sentiment was positive, as 17 stocks gained relative to 14 losers. 

 

IKEJA HOTEL PLC (+10.0%) and ROYAL EXCHANGE PLC (+7.3%) topped the gainers’ list while UNIVERSITY PRESS PLC (-9.6%) and CHAMS HOLDING COMPANY PLC (-8.0%) recorded the highest losses of the day.

 

On sectors, the Insurance (+0.5%), Consumer Goods (+0.1%), and Oil & Gas (+0.1%) indices recorded gains, while the Banking (-0.1%) index declined. The Industrial Goods index closed flat.

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