MTN, Unilever, others drag equities market decline by N2 trillion
The Nigerian stock market opened the week on a bearish note, extending its losing streak as investors lost N2.341 trillion.
Profit-taking in large- and mid-cap stocks, including Learn Africa, Unilever, MTN Nigeria, AustinLaz, Abbey Mortgage Bank, and 42 other equities, pushed the market into negative territory.
Market capitalisation declined by N2.341 trillion, or 1.57 per cent, to N146.564 trillion from N148.905 trillion. The All-Share Index (ASI) fell by 3,647.10 points, or 1.57 per cent, to close at 228,401.92, down from 232,049.02.
This led the market’s year-to-date return to moderate to 46.78 per cent. Meanwhile, market breadth closed negative, with 47 losers against 13 gainers.
MTN Nigeria, Unilever and Learn Africa led the losers’ chart, down 10 per cent each, closing at N747, N126 and N9 per share, respectively. Abbey Mortgage Bank and Austinlaz dipped by 9.94 per cent each, finishing at N7.25 and N3.17 per share, respectively.
UPDC led the gainers’ chart with a 9.23 per cent gain, settling at N3.55. Coronation Infrastructure Fund trailed by 5.45 per cent, ending the session at N116, while Sovereign Trust Insurance grew by 4.08 per cent, closing at N2.04 per share.
Neimeth Pharmaceuticals advanced by 3.45 per cent, finishing at N6, and Livestock Feeds increased by 3.03 per cent, closing at N8.50 per share.
Despite weaker market activity today, total trading volume surged to 996.47 million shares, with transactions valued at N43.73 billion across 61,813 trades.
Ikeja Hotel emerged as the most actively traded stock by volume, recording 305.54 million shares, which represented 28.94 per cent of the day’s total volume. It also led the market by value, with trades worth N13.21 billion, accounting for 29.65 per cent of the total value traded.
(NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Anti-Corruption
Agbakoba offers ‘South Africa’ solution to shield state police from governors’ abuse
A former president of the Nigerian Bar Association, Olisa Agbakoba, has drawn on the Constitution of South Africa to suggest ways to prevent governors from abusing state policing.
States
Yobe: Police say four hostages freed in Fika
The police command in Yobe says it freed four girls following an attempted kidnapping in the Fika council area.
Lagos
God did not tell me how or when he’ll rescue Oyo schoolchildren; promised to talk to me later: Pastor Adeboye
“I was compelled to cry unto God because we have been fasting and praying for a particular group of school children who were captured,” said the RCCG spiritual leader.
Lagos
Togolese army deserters captured in Lagos: Civil Defence
Mr Abolurin disclosed that NSCDC operatives also apprehended two deserters from the Togolese army.
Sport
2026 FIFA World Cup: Morocco edge Netherlands on penalties
Morocco will now face co-hosts Canada on Saturday in the next knockout round at the NRG Stadium in Houston, Texas, United States.
Economy
Women hold key to Africa’s maritime future, says IMO chief
Ms Meranda cited the IMO-WISTA survey on women’s global representation in the maritime sector. She urged investment in training, mentorship and financing for women.
