Nigerian Equity Market Resumes Trading In July On Negative Trend

Activities resumed on the Nigerian Stock Exchange (NSE) on Monday, the first trading day in July, on a negative trend, as the market indices, volume and value closed lower. The market capitalisation lost N121 billion or 1.06 per cent to close at N11.331 trillion compared with N11.452 trillion achieved on Friday. Similarly, the All-Share Index which opened for the month at 33,117.48 shed 347.68 points or 1.05 per cent to close at 32,769.80 amid price loses. Some major oil companies posted price depreciation with Total leading the loser’s table with a loss of N14 to close at N266 per share. Mobil Oil followed with a loss of N12.49 to close at N237.53 and 7UP was down by N8.24 to close at N78.21 per share. Presco shed N3.57 to close at N67.93, while Guinness declined by N3.57 to close at N67.93 per share. On the other hand, PZ led the gainers’ table during the day, gaining N1.43 to close at N24.35 per share. CAP followed with a gain of N1 to close at N33 and Honey Well appreciated by 17k to close at N1.93 per share. Cutix added 10k to close at N2.10, while Air Service increased by 6k to close at N4.56 per share. Also, the volume of shares traded and value dropped by 53.06 per cent and 54.63 per cent respectively. Investors traded 162.35 million shares valued at N1.52 billion exchanged in 3,488 deals. This was lower than 345.86 million shares worth N3.35 billion transacted in 4,797 deals on Friday. Access Bank of the banking subsector led the activities chart, trading 20.89 million shares valued at N197.40 million. It was trailed by Fidelity Bank with 16.03 million shares worth N20.89 million and United Bank for Africa traded 14.61 million shares valued at N125.86 million. Transcorp exchanged 11.57 million shares worth N16.27 million, while Zenith Bank sold 8.89 million shares valued at N184.56 million.

Author: NewsAdmin

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