• Wednesday, June 19, 2024
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MRS, Eterna, others cause equities N3bn loss on Nigerian Exchange

Election delay weighs on as index dips further by 0.8%

Nigeria’s equities market was unable to sustain the positive seen at the beginning of this week as investors booked a loss of about N3billion at the close of the trading session on Tuesday.

The record negative pushed this year’s positive return lower to +5.26percent. Tuesday’s dip happened as more investors offered mostly for sale, stocks like MRS, Eterna, Japaul Gold, Learn Africa and FTN Cocoa without corresponding buy-side activity on the Nigerian Exchange Limited (NGX).

The Nigerian Exchange Limited (NGX) –All Share Index (ASI) and Market Capitalisation which stood at 42,394.71 points and N22.128trillion respectively on Monday decreased by 0.01percent or N3billion to 42,388.57 points and N22.125trillion on Tuesday.

Read also: Here’s NGX Q3 fact sheet

UACN, FBNH, UBA, Stanbic IBTC and Courteville were most traded stocks on the NGX on Tuesday. In 3,489 deals, investors exchanged 275,930,547 units valued at N3.935billion.

Eterna share price dipped most, from N5.55 to N5, down by 55kobo or 9.91percent, followed by MRS which decreased from N13.70 to N12.35, down N1.35 or 9.85percent.

Also, Japaul Gold dropped from a high of 39kobo to 36kobo, losing 3kobo or 7.69percent.

Likewise, Learn Africa decreased from N1.26 to N1.17, shedding 9kobo or 7.14percent, while FTN Cocoa dropped from 42kobo to 40kobo, down by 2kobo or 4.76percent.

On the gainers list, CAP Plc led others, after its share price rose from N18.20 to N19.45, up by N1.25 or 6.87percent.