• Thursday, May 23, 2024
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BusinessDay

Transcorp Hotels, MTNN, FBNH, Oando, others push market to new low

Airtel Africa fuels stock market’s first gain this week

Nigeria’s equities market decreased further on Wednesday by 1.20 percent as more investors chose to sell stocks like Transcorp Hotels, MTNN, FBN Holdings, and Oando.

These stocks and other major laggards like Transcorp Hotels and Fidson Healthcare pushed the market further south.

Transcorp Hotels led the league of top loser after its share price lowered from N97.70 to N87.93, losing N9.77 or 10 percent. Also, MTNN decreased from preceding day’s high of N224 to N201.60, losing N22.40 or 10 percent.

Likewise, Oando decreased from N10.10 to N9.10, down by N1 or 9.90 percent. FBN Holdings was also down, from N21.90 to N19.75, losing N2.15 or 9.82 percent, while Fidson Healthcare moved from preceding day’s high of N15.90 to N14.35, losing N1.55 or 9.75 percent.

At the close of trading, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation depreciated from preceding day’s highs of 99,311.54 points and N56.167trillion to 98,121.3 points and
N55.494trillion.

The stock market’s year-to-date (YtD) return also decreased further to 31.22 percent. In 7,907 deals, investors exchanged 395,751,156 shares worth N9.576billion.

GTCO, Zenith Bank, UBA, FBN Holdings and Access Holdings were actively traded stocks on Wednesday.