The Nigerian equities market commenced this week trading session, yesterday on a negative note with a decline of 0.37 per cent.
The All Share Index (ASI) shed 110.37 absolute points, representing a dip of 0.37 per cent to close at 29,936.33 points. Similarly, the market capitalisation shed N41 billion to close at N13.192 trillion.
Yesterday’s performance was influenced by price depreciation in medium and large capitalised stocks, among which are, Dangote Cement, MTN Nigeria, Guinness Nigeria, Oando and Nigerian Aviation Handling Co (NAHCO).
Analysts at APT Securities and Funds Limited said that “We retain our cautious trading advice in the short run. However, accumulation of fundamentally justified and dividend paying stocks for mid to long term is recommended.”
Market breadth was negative with 16 gainers against 20 losers. Prestige Assurance recorded the highest price gain of 10 per cent, to close at 55 kobo, per share. Forte Oil followed with a gain of 9.86 per cent, to close at N32.30, while Wapic Insurance rose by 9.76 per cent to close at 45 kobo, per share.
Courteville Business Solutions rose by 9.52 per cent to close at 23 kobo, while Japaul Oil & Maritime Services gained 4.17 per cent to close at 25 kobo, per share. On the other hand, Royal Exchange led the losers’ chart by 8.33 per cent, to close at 22 kobo, per share. NAHCO followed with a decline 6.35 per cent to close at N2.80, while Thomas Wyatt Nigeria declined by 6.06 per cent to close at 31, per share.
Oando declined by 5.13 per cent to close at N3.17, while United Capital down by 4.72 per cent, to close at N2.22, per share.
However, the total volume traded went up by 1,867.26 per cent to 2.86 billion units, valued at N3.92 billion, and exchanged in 3,360 deals. Wema Bank traded 2.7 billion shares valued at N1.71 billion. Fideity Bank followed with 24.64 million shares worth N42.88 million, while Thmas Wyatt Nigeria traded 22.91 million shares valued at N7.10 million.
Zenith Bank traded 15.64 million shares valued at N315.17 million, while Access Bank transacted 10.44 million shares worth N66.29 million.
Rape: Police Invite Bisola, Timi Dakolo For Questioning
The Police on Sunday confirmed that its operatives had served official invitation letters on Bisola and Timi Dakolo over the...
NNPC Records N6.33b Trade Surplus In May – Report
The Nigerian National Petroleum Corporation (NNPC) said it recorded a trade surplus of N6.33 billon for the month of May,...
Expert Warns Against Inserting Hard Objects In Mouth Of Convulsing Patients
A medical expert, Dr Shola Aina of Lifecare Hospital, Ilorin has warned against inserting hard objects into the mouths of...
Google Doodle Celebrates Buchi Emecheta 75th Posthumous Birthday
Google on Sunday celebrated Nigerian novelist Buchi Emecheta with its Doodle on what would have been her 75th birthday. The...
Emanuela Orlandi Case: Vatican Attempts New Search To Solve Mystery
The Vatican made its latest attempt on Saturday to unravel the mystery of the disappearance of a teenage Italian girl...
NAMA Divides Lagos Area Control Centre To Improve Air Traffic Service
The Nigerian Airspace Management Agency (NAMA) has successfully split the Lagos Sub-Flight Information Region (Sub-FIR) airspace into two sectors to...
Twitter Suspends Iranian News Agencies Over ‘Harassment Of Baha’is’
Twitter has suspended several Iranian news accounts over alleged harassment of people who follow the Baha’i faith. Young Journalists Club...
OPINION12 hours ago
Presidential Election Petition Tribunal: The Chasing Shadow Moves Of Atiku Abubakar And PDP
COVER STORIES10 hours ago
Rights Commission Wades Into Sen Abbo’s Alleged Abduction Of Wife
NEWS24 hours ago
el-Rufai Swears-In Head Of Service, Chief Of Staff, Others
FEATURES12 hours ago
Longest-Serving African Female Presidents
NEWS23 hours ago
UN Fears Safety Of Aid Workers As Terrorists Kill, Abduct 6
POLITICS23 hours ago
Party Registration Should Be Full Time Job For Another Body – INEC
FEATURES7 hours ago
Brewing War Of Camps In Bayelsa PDP
NEWS23 hours ago
Edo, SON Partner To Check Sub-Standard Products, Sensitise Artisans