See more MRS, others biggest losers as stock market shed over N500bn in 3 Days

• The Nigerian Exchange extended its losing streak connected Wednesday, shedding implicit N200 cardinal astatine the adjacent of trading
• This latest diminution pushed the full nonaccomplishment recorded to implicit N500 cardinal successful conscionable 3 days of banal trading
• The downturn was driven by losses successful MRS, Livestock Feeds, E-Tranzact, and Coronation Insurance astatine the adjacent of trading

Legit.ng writer Dave Ibemere has implicit a decennary of concern journalism acquisition with in-depth cognition of the Nigerian economy, stocks, and wide marketplace trends.

The Nigerian banal marketplace extended its losing streak for the 3rd consecutive time connected Wednesday, March 19.

New information showed that bargain hunters' activities failed to supply enactment for oversold stocks, starring to different circular of sell-offs.

Nigerian Stock Market recorded different loss Photo credit: NGX
Source: Getty Images

This anemic capitalist sentiment has kept gains successful check, resulting successful a cumulative marketplace nonaccomplishment of astir N563 cardinal successful just 3 days of trading. (Monday to Wednesday).

The market, which opened the week with a capitalisation of N66.352 trillion, has declined by 0.98% truthful far. On Wednesday alone, the marketplace dropped by 0.44%.

MRS led the losses followed by Livestock Feeds laggards, E-Tranzact, Coronation Insurance and May & Baker.

As a effect of the persistent bearish sentiment, the Nigerian Exchange Limited (NGX) All-Share Index (ASI) and marketplace capitalisation dropped further from 105,360.19 points and N66.068 trillion to 104,915.13 points and N65.789 trillion, respectively.

Snapshot of trading activities connected Wednesday

There were 12,012 deals arsenic investors traded 1,366,555,194 shares worthy N12.374 billion.

Top 5 Gainers

• Julius Berger Nigeria Plc gained N10.70, rising from N126.30 to N137.00 per stock (8.47%).
• Omatek Ventures Plc accrued by N0.04, moving from N0.65 to N0.69 per stock (6.15%).
• UPDC Plc gained N0.08, climbing from N2.97 to N3.05 per stock (2.69%).
• Wema Bank Plc precocious by N0.25, rising from N10.30 to N10.55 per stock (2.43%).
• Unilever Nigeria Plc gained N0.80, expanding from N37.70 to N38.50 per stock (2.12%).

Top 5 decliners

• Livestock Feeds Plc fell by N0.94, dropping from N9.40 to N8.46 per stock (-10.00%).
• eTranzact International Plc declined by N0.55, decreasing from N5.85 to N5.30 per stock (-9.40%).
• Wapic Insurance Plc mislaid N0.24, moving from N2.59 to N2.35 per stock (-9.27%).
• MRS Oil Nigeria Plc dropped by N16.00, falling from N178.00 to N162.00 per stock (-8.99%).
• May & Baker Nigeria Plc declined by N0.70, sliding from N8.70 to N8.00 per stock (-8.05%).

Top 5 trades by volume

• Sovereign Trust Insurance Plc recorded 1,009,734,328 shares valued astatine N989,016,093.19.
• Fidelity Bank Plc saw 42,796,085 shares exchanged, amounting to N723,151,338.85.
• Access Holdings Plc registered 30,614,265 shares worthy N698,019,950.20.
• Jaiz Bank Plc traded 23,950,842 shares valued astatine N85,036,629.78.
• Zenith Bank Plc posted 21,630,923 shares, with a full worth of N1,024,290,786.40.

DMO announces day to statesman auction of N300 cardinal FGN bonds

In a erstwhile study by Legit.ng the Debt Management Office (DMO) announced that auctions of the federal government bonds valued astatine N300 cardinal volition statesman soon.

It volition beryllium unfastened for subscription astatine the complaint of N1,000 per unit, and the auction of the bonds volition commence connected March 24.

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Source: Legit.ng