The Nigerian bourse was on the verge of closing positive in Thursday’s trading, however, investor’s sell-off of MTNN (-3.33%) stock led to a marginal decline in the ASI index by 0.05% to 27,864.84 points.
Consequently, the Month-to-date loss increased to 3.39%, while the Year-to-Date gain moderated to 3.81%.
Similarly, the total volume of trades decreased by 1.10% to 150.7 million units, valued at NGN2.8 billion and exchanged in 3,198 deals.
Zenith Bank was the most traded stock by volume at 25.4 million units, while MTNN was the most traded stock by value at NGN792.6 million.
Analysing by sectors, the banking (+2.09%), industrial (+0.79%) and Consumer Goods (+0.09%) indices advanced, while the Insurance (-1.77%) index declined. The Oil & Gas index remained flat.
Market sentiment, as measured by market breadth, was flat (1.0x), as 13 tickers declined, relative to 13 gainers.
Lawunion (-9.84%) and Japauloil (-8.33%) recorded the largest declines, while UCAP (+10.00%) and Learnafrica (+9.73%) topped the gainer’s list.