Trading on the equities sector of the Nigerian Exchange Limited (NGX) closed on a negative note, yesterday, as capitalisation declined by 117 billion amid price depreciation in MTN Nigeria Communications (MTNN) Plc and 19 stocks.

The all-share index (ASI) lost 185 points, representing a decline of 0.17 per cent to close at 105,931.18 points. Also, market capitalisation declined by N117 billion to close at N66.577 trillion.

The downturn was driven by price depreciation in large and medium capitalised stocks amongst which are MTNN, PZ Cussons Nigeria, Livestock Feeds, Multiverse Mining and Exploration and SUNU Assurance.

Analysts at Vetiva Dealings and Brokerage said: “We anticipate a mixed session ahead as recent gains in the banking sector may continue to attract interest. However, signs of profit-taking in the consumer goods space could temper broader market momentum. Earnings season remains the key driver of investor positioning, with selective buy-side activity expected to persist.

“However, investor sentiment, as measured by market breadth closed positive as 33 stocks advanced, while 20 declined. Legend Internet emerged the highest price gainer of 10 per cent to close at N8.25 kobo. ABC Transports followed with a gain of 9.94 per cent to close at N1.88 kobo, while Cadbury Nigeria rose by 9.91 per cent to close at N32.15 kobo.

Champion Breweries increased by 9.79 per cent to close at N4.71, while Eterna up by 9.46 per cent to close at N48. On the other side, Livestock Feeds led the losers’ chart with 9.71 per cent to close at N7.72 kobo. Multiverse Mining and Exploration followed with a decline of 9.62 per cent to close at N7.05, while McNichols lost 9.47 per cent to close at N1.72 kobo.

Omatek Ventures depreciated by 9.23 per cent to close at 59 kobo, while MTNN down by 6.07 per cent to close at N240.

Also, the total volume of trades increased by 46.44 per cent to 733.052 million units, valued at N35.288 billion, and exchanged in 16,619 deals. Transactions in the shares of Fidelity Bank led the activity with 285.155 million shares worth N5.774 billion.

MTNN followed with account of 86.851 million shares valued at N20.931 billion, while Access Holdings traded 35.57 million shares valued at N851.28 million. Universal Insurance traded 29.811 million shares worth N15.188 million, while Guaranty Trust Holding Company (GTCO) traded 28.51 million shares worth N1.935 billion.