Nigeria : Equities extend losses as index dips further by 0.07 per cent
- 19 May 2022 / News / 147 / Fares RAHAHLIA
The Nigerian Exchange Limited (NGX) extended losses to three consecutive sessions yesterday, as the All-Share Index (ASI) depreciated further by 0.07 per cent, amid sustained profit-taking.
Specifically, at the close of trading yesterday, the ASI decreased by 35.28 absolute points, representing a dip of 0.07 per cent to close at 52,721.34 points. Similarly, the market capitalisation lost N19 billion to close at N28.423 trillion.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; Nigerian Exchange Group (NGX Group), Berger Paints Nigeria, Lafarge Africa, Fidson Healthcare and May & Baker Nigeria.
Analysts at GTI Securities said: “The equities market ended transactions on a negative note, we expect profit-taking from recently appreciated stocks to continue during the week.”
Afrinvest Securities said: “Investor sentiment, as measured by market breadth, improved to -0.03x from -0.09x as 21 stocks gained, 23 lost while 69 closed flat. In the penultimate session of the week, we anticipate the market would recoup some losses amid bargain hunting activities.”
Also, market breadth closed negative with 23 losers while 21 stocks appreciated at price. Academy Press led the losers’ chart by 9.93 per cent, to close at N1.36, per share.
Berger Paints Nigeria followed with a decline of 8.86 per cent to close at N7.20, while Neimeth International Pharmaceuticals went down by 8.57 to close at N1.60 kobo. May & Baker Nigeria lost 8.51 per cent to close at N4.30, while Wema Bank shed 7.61 per cent to close at N3.28 per share.
TransNational Corporation declined by 6.34 per cent to close at N1.33 kobo. Jaiz Bank dropped 5.56 per cent to close at 85 kobo. Livestock dipped by 5.29 per cent to close at N1.61 kobo. Fidson lost 4.76 per cent to close at N11. Curtix also shed 4.14 per cent to close at N2.78 kobo.
McNichols Plc recorded the highest price gain of 9.94 per cent, to close at N1.77 kobo. Transcorp Hotel followed with a gain of 9.84 per cent to close at N5.36 kobo while Champion Breweries appreciated by 7.03 per cent to close at N3.96 kobo.
Consolidated Hallmark Insurance went up by 6.56 per cent to close at 65 kobo, while Multiverse Mining and Exploration appreciated by 4.76 per cent to close at 22 kobo.
The total volume traded slumped by 53.77 per cent to 611.974 million shares, worth N7.426 billion, and traded in 5,948 deals. Transactions in the shares of FBN Holdings (FBNH) topped the activity chart with 153.336 million shares valued at N1.897 billion.
Jaiz Bank followed with 116.642 million shares worth N104.480 million, while Guaranty Trust Holding Company (GTCO) traded 65.930 million shares valued at N1.577 billion.
FCMB Group traded 43.485 million shares valued at N152.172 million, while Transnational Corporation of Nigeria (Transcorp) transacted 40.734 million shares worth N57.855 million.
TUNISIA- Cabinet meeting approves economic, social and cultural draft presidential decrees
- 07 November 2022
(TAP) - The Cabinet meeting chaired by Prime Minister Najla Bouden on Saturday in Kasbah looked at and approved a series of economic, social and cultural draft presidential decrees.They are:- A draft...
Nigeria : Insecurity, aggressive revenue drive undermine Middle Belt, Niger Delta industrial zones
- 27 July 2022
Prevailing challenges of insecurity in the Middle Belt region and aggressive revenue drive by governments in the Niger/Delta region have remained a clog in the performance wheel of industrial firms in...