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NSE: MTNN, Dangote Cement, GTB top losers as bearish run completes week



Stock market loses N1.12tn in May, records longest chain of losses in 3 years

The Nigerian Stock Exchange (NSE) completed a week of bullish run Friday as the market recorded a negative market breadth again. The All Share Index (ASI) closed at 26,855.52, shedding 0.22% in the process. The market capitalisation dipped to N12.962 trillion at the end of today’s trade. Year to date, the index is down by 14.56%.


UACN led advancers today, appreciating by 6.83% to close at N8.6. Dangote Sugar added up 1.35% to end today’s trade at N15. Access Bank went up by 2.21% to N9.25. Sterling Bank rose to N1.98, notching up 4.21% in the process. Transnationwide Express completed the top 5, climbing to N0.99 by 7.61%.


MTNN topped the pack of losers, declining by 0.84% to close at N118. Dangote Cement shed 0.21% to end the week at N142.7. GTB fell to N29.9, losing 0.66%. UBA slumped to N6.7, recording 2.90% depreciation. UPL closed at N1.35 after going down by 7.53%.


197.036 million shares valued at N3.532 billion were traded today in 3,989 deals.

UACN was the most active stock with 33.018 million of its stocks worth N282.857 million traded in 251 deals. 28.729 of Access Bank shares priced at N263.669 million exchanged hands in 245 transactions. UBA had 24.435 million shares valued at N164.118 million traded in 341 deals. Zenith Bank traded 18.919 million shares estimated at N354.419 million in 354 transactions. Dangote Cement traded 12.754 million shares valued at N1.787 billion in 111 deals.


Underwriter, Prestige Assurance Plc, notified the Exchange today of the appointment of a new Managing Director and an Executive Director. Mr Sarberswar Sahoo, the new MD holds a Master’s degree in Commerce, Master’s in Business Administration (Finance & Marketing) and is a Fellow of the Insurance Institute of India (FII). Prior to his deputation, he was the Regional Manager in charge of Bhubaneswar Regional operations. He has 27 year experience in General Insurance industry and has undergone various professional trainings and workshop and different aspect of insurance.

Mr Vadlamudi Raja, the new Executive Director, joined the New India Assurance Company in 1987. He is a Master’s degree holder in History from Acharya Nagarjuna University, Guntur. He is a Fellow of the Insurance Institute of India, Mumbai. He has 28 year experience in the insurance industry.

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