Equities market dips by 0.03%
By Philemon Adedeji
Equities market on the Nigerian Exchange Limited, yesterday extended losses for the second consecutive session as the All-Share Index closed 0.03 per cent decline
Nonetheless, the index remains on track for its first weekly gain in three weeks. As a result, the All Share Index (ASI) decreased by 12.67 absolute points, representing a dip of 0.03 per cent to close at 50,582.30 index points. Similarly, in Naira term, the market capitalisation lost N7 billion to close at N27.277 trillion.
The downturn was impacted by losses recorded in medium and large capitalised stocks, amongst which are; BUA Cement, Dangote Sugar Refinery, Multiverse Mining and Exploration, NEM Insurance and Fidelity Bank.
Analysts at GTI Securities Limited said, “Local Bourse closed negative as sell pressure was witnessed on 16 stocks. We expect mixed sentiments to continue, as more companies’ release their second quarter (Q2) results.”
As measured by market breadth, market sentiment was positive as ,PZ Cussion dominated the gainers, while Multiverse and mining Exploration dominated the losers.
PZ Cussons Nigeria recorded the highest price gain of 10 per cent to close at N9.35, per share. Honeywell Flour Mill followed with a gain 9.64 per cent to close at N2.73, while Stanbic IBTC Holdings rose 9.15 per cent to close at N31.00, per share.
Wapic Insurance went up by 8.11 per cent to close at 40 kobo, while Regency Alliance Insurance and Sovereign Trust Insurance appreciated by 8.00 per cent each to close at 27 kobo each, per share.
On the other hand, Multiverse Mining and Exploration led the losers’ chart by 10 per cent to close at N1.71, per share. Lasco Assurance followed with a decline of 7.07 per cent to close at 92 kobo, while FTN Cocoa processors shed 6.25 per cent to close at 30 kobo, per share.
BUA Cement lost 4.51 per cent to close at N58.25, while Unity Bank shed 4.44 per cent to close at 43 kobo, per share.
However, the total volume traded rose 7.66 per cent to 130.445 million shares, worth N1.623 billion, and traded in 3,993 deals.
Transactions in the shares of AIICO Insurance topped the activity chart with 16.318 million shares valued at N9.379 million. Transnational Corporation of Nigeria (Transcorp) followed with 11.155 million shares worth N12.915 million, while Access Holdings traded 9.737 million shares valued at N87.628 million.
Consolidated Hallmark Insurance traded 7.490 million shares valued at N4.654 million, while Japaul Gold and Ventures transacted 6.890 million shares worth N2.135 million.
