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Index dips by 0.08% amid losses in MTNN, 14 stocks

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Despite price gains that outweighed losses, transactions on the equities sector of the Nigerian Exchange Limited (NGX) reopened

Despite price gains that outweighed losses, transactions on the equities sector of the Nigerian Exchange Limited reopened on a downturn yesterday, as the All-share index fell by 0.08 per cent, amid price depreciation in MTN Nigeria and 14 stocks.

The market negative performance was driven by price depreciation in large and medium capitalised stocks which are MTN Nigeria Communications , Nigerian Breweries, FBN Holdings, United Bank for Africa and FCMB Group. However, market breadth closed positive, as 40 stocks gained relative to 15 losers. University Press recorded the highest price gain of 10 per cent to close at N2.75 kobo. Guinness Nigeria followed with a gain of 9.96 per cent to close at N66.25 kobo, while Champion Breweries increased by 9.83 per cent to close at N3.24 kobo.

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