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NSE: Sell pressure in MTN, NEM, UACN, others shrinks market capitalisation by N7 billion



The Nigerian Stock Exchange (NSE) posted a marginal decrease in its total market value today as sell pressure in some stocks dragged the index down. All key performance indicators closed in the red today. A negative market breadth was posted with 13 gainers as against 15 losers. All the sector indices appreciated save for the Insurance Index, which slipped by 1.77% to 130.06 basis points. However, the Oil and Gas Index closed flat. The All Share Index (ASI) went down by 0.05% to close at 27,864.84 basis points. The market capitalisation plummeted to N14.513 trillion at the end of today’s trade. Year to date, the index is up by 3.81%.


In value terms, GTB led gainers today, growing by 6.38% to close at N30.85. BUA Cement gained 1.42% to close at N35.8. Flour Mills rose marginally by 2.22% to N23. UCAP leapt to N2.86, notching up 10% in the process. Learn Africa completed the top 5, climbing up by 9.73% to N1.24.


MTN topped the losers’ table today, declining by 3.33% to close at N116. NEM shrank by 7.27% to end the day at N2.04. UACN tumbled to N9.35, losing 1.58%. Law Union & Rock dipped to N1.1, recording 9.84% loss. Zenith Bank closed at N19.9, going down by 0.25%.


150.725 million shares worth N2.782 billion were traded today in 3,198 deals.

Zenith Bank was the most active stock today with 25.410 million of its stocks worth N502.432 million traded in 455 deals. 25.059 million units of Flour Mill shares priced at N574.520 million exchanged hands in 66 transactions. UCAP traded 21.780 million shares estimated at N59.040 million in 206 transactions. UBA traded 10.907 million shares valued at N84.532 million in 169 deals. MTNN had 6.854 million shares valued at N792.585 million traded in 126 deals.

READ ALSO: Nigerian govt discovers 1bn barrels of crude oil in North East


Africa’s largest Bank by customer, Access Bank Plc today notified The Exchange, its shareholders and the general public of the change of its registered head office address from Plot 999c Danmole Street, Victoria Island, Lagos to No 14/15 Prince Alaba Oniru Road, Oniru, Lagos with effect from 28 February 2020.

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