Honeywell Flour, MTN and others push the market back 0.01%

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Depreciation in shares of Honeywell Flour, MTN Nigeria, Ecobank and 10 others sent the Nigerian Exchange (NGX) Limited back from bull territory to the danger zone by 0.01 percent on Thursday.

It was the first trading session of December and the stock market could not sustain the positive momentum it recorded on the last day of the previous month due to the aforementioned selling pressure on shares, although investor sentiment remained strong.

According to stock exchange data, the market breadth was positive yesterday as there were 15 price advances and 13 price declines led by Honeywell Flour, which fell 7.89 percent to trade at N2.10. RT Briscoe was down 7.41 percent at 25 Kobo, Wema Bank was down 5.45 percent at N3.12, FCMB contracted 4.18 percent at N3.21 and Cutix was back 2.84 percent at N2.05.

At the top of the winners’ register was UPDC REIT, which improved its share value by 9.09 per cent to N3.00, McNichols rose 8.93 per cent to 61 Kobo, Japaul jumped 7.41 percent to 29 Kobo, Nigerian Breweries 7.14 percent. to N45.00, and Royal Exchange grew 4.76 percent to 66 Kobo.

Investors traded 172.9 million shares valued at Naira 2.8 billion in 3,073 deals yesterday compared to 107.0 million shares valued at Naira 1.3 billion traded in 3,227 deals in the midweek session, which represents a decrease in the number of agreements of 4.77%. an increase in the volume of operations by 61.55 percent, and an increase in the value of operations by 115.63 percent.

The increase in market turnover was driven by the 49.8 million FCMB shares traded by investors during the session. Courteville traded 16.9 million shares, Access Holdings sold 12.0 million shares, UBA traded 10.8 million shares and Zenith Bank traded 9.8 million shares.

trade publication reports that the insurance and energy accountants were down 0.12% and 0.08%, respectively, while the banking and consumer goods sectors were up 2.16% and 0.77% each, with the industrial goods space closing unchanged.

At the close of business, the All-Share Index (ASI) was down 3.40 points to 47,656.64 points from 47,660.04 points, and the market capitalization fell by N2 billion to N25.957 trillion from N25.959 trillion .

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