MTN drags Nigerian equity market down 0.21%

The Nigerian Equity Market today closed lower as the All Share Index (ASI) retreated by 0.21%, driven by price depreciation in MTNN. This occurred irrespective of the positive performance recorded in the five major market sectors. Market breath closed positive, recording 27 gainers as against 10 losers.The All Share Index (ASI) decreased by 57.27 absolute points, representing a dip of 0.21% to close at 27,058.62 points. Similarly, the Market Capitalization declined by N27.91 billion, representing a loss of 0.21% to close at N13.19 trillion.
TRANSCORP emerged the top gainer while CUTIX emerged as top loser.
The Downturn was impacted by losses recorded in large and medium capitalized stocks, amongst which are; CUTIX (-9.62%) PZ (-8.83%), MAYBAKER(-6.83%), HONYWELL(-6.06%), CONOIL (-4.82%), MTNN (-4.40%) and UBN (-2.14%).