MTNN, eight others push Nigerian equity market down further as decline extends to sixth consecutive trading day

The Nigerian equity market recorded its sixth consecutive trading day decline on Thursday, dragged further down by 0.12 per cent due to losses sell-off pressure on MTNN, FBNH, Zenith Bank and 6 others.

 The All-Share Index (ASI) dipped by 29.75 absolute points, representing a decline of 0.12 per cent to close at 24,625.24 points, while the Market Capitalization size shed N15.55 million, representing a decrease of 0.12 per cent to close at N12.85 trillion.

NEIMETH emerged as the top gainers of the nine advancers, while LINKASSURE emerged as the top of seven other losers.

The volume and value of equities traded fell 31.2 per cent and 15.2 per cent to 130.3 million units and ₦1.6 billion, respectively.

The Healthcare and Banking indices were the only gainers, up by 1.49 per cent and 0.18 per cent respectively, buoyed by price appreciation in NEIMETH (+9.6 5 per cent), MAYBAKER (+3.09 per cent), ETI (+2.13 per cent) and FCMB ( +1.6 7 per cent).

Selloffs in NAHCO (-0.75 per cent) and MTNN (-0.42 per cent) dragged the ICT (-5.88 per cent) and Services (-5.22 per cent) indices lower.

Similarly, Agriculture and Oil & Gas indices moderated by 0.0 per cent and 3bps respectively owing to selloffs in JAPAULOIL (-7.6 9 per cent) and LIVESTOCK (-2.8 6 per cent).