Equities Market Begins July On Bullish Trend

By Nse Anthony-Uko

(Sundiata Finance) – The Nigerian equities market, on Monday, opened the month of July and also the week with a 1.05 per cent decline.

Overall, the All Share Index (ASI) declined 347.68 absolute points, representing a decline of 1.05 per cent to close at 34,135.10 points. Similarly, the market capitalisation gained N120 billion, to close at N11.332 trillion.

The downturn was impacted by losses recorded in large capitalised stocks, amongst which are; Total Nigeria, Mobil, Seven Up, Presco and Guinness Nigeria. Capital market analysts stated that, “Whilst we reckon that the performance of the equities market will remain largely driven by the positive macroeconomic developments in the past three months, we do not eliminate the possibility of some profit taking in the early trading sessions this week. Hence we advise that investors take advantage of fundamentally sound stocks that have fallen to attractive entry prices.”

Market breadth was negative, with 17 gainers versus 29 losers. Honeywell Flour recorded the highest price gain of 9.66 per cent, to close at N1.95 per share. PZ Industries Breweries followed with a gain of 6.24 per cent to close at N24.35, Livestock appreciated by 5.26 per cent to close at N1.00 per share, while Skye Bank and Cutix went up by five percent each to close at 63 kobo and N2.10 per share, respectively.

On the other hand, May and Baker led the losers’ chart by 9.54 per cent, to close at N3.51 per share. Seven Up followed a decline of 9.53 per cent to close at N78.21, Unity Bank depreciated by 8.96 per cent to close at 61 kobo, while Total Nigeria and Berger Paints declined by five percent each, to close at N266 and N6.84 per share, respectively.

Also, the total volume traded depreciated by 53.1 per cent to 162.354 million shares, worth N1.517 billion, and traded in 3,488 deals. Transactions in the shares of Access Bank topped the activity chart with 20.9 million shares valued at N197.40 million. Fidelity Bank followed with 16.03 million shares worth N20.89 million, while UBA traded 14.61 million shares valued at N125.86 million. Transcorp traded 11.57 million shares valued at N16.27 million, while Zenith Bank sold 8.89 million shares worth N184.56 million.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Sundiata Post Media Ltd.

Address: 3rd Floor Office Suite, Bayelsa State Guest House, Plot 1038, Shehu Shagari Way, Maitama, Abuja, Nigeria.
Tel: +234(0)92900705, +234(0)8173460599
Whatsapp: +234(0)8053069436
BBM PIN: 5619150D
Email: info@sundiatapost.com
Website: www.sundiatapost.com

Enugu Regional Office: SW 1 New Haven Shopping Mall, Enugu, Enugu State, Nigeria.
Tel: +234(0)7062582838

London Office: 18 Belgrave Avenue, Wd18 7UE, Watford, United Kingdom.
Tel: +447417554143

Washington Office: 1245 Delafield PI NE, Washington DC 20017, USA.
Tel: 0092404216156

https://twitter.com/sundiatapost/
About Us

SundiataPost is published by Sundiata Post Media Limited, Sundiata Post is Nigeria’s most authoritative online newspaper and ranks among the top five online news platforms in Nigeria.

Guild of Corporate online publishers
ACCREDITED MEMBER
A Glance at Our Advert Rate.

Inside Pages

Size In Pixels - Amount

120×180 - N27,967.50

300×100 - N24,695

Text Link - N11,275

More Details info

About Us | Contact Us | Privacy Policy | Terms of Use | Advert Rate