Wednesday, July 28, 2021

Nigerian stock exchange resumes new trading week with 0.22% loss

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Agency Reporthttps://dailynigerian.com/author/rayyan/
Rayyan Alhassan is a graduate of Journalism and Mass Communication at Sikkim Manipal University, Ghana. He is the acting Managing Editor at the Daily Nigerian newspaper, a position he has held for the past 3 years. He can be reached via [email protected], or www.facebook.com/RayyanAlhassan, or @Rayyan88 on Twitter.
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The local bourse resumed the first trading week on a bearish note with key performance indicators dropping by 0.22 per cent, amid profit taking in 19 stocks.

Superficially, the All-Share Index, which opened the week at 38,648.48 lost 86.64 or 0.22 per cent to close at 38,561.84.

Consequently, the month-to-date and year-to-date losses increased to 3.1 per cent and 4.2 per cent, respectively.

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Also, the market capitalisation dipped N46 billion to close at N20.175 trillion from N20.221 trillion recorded on Friday.

The loss was driven by price depreciation in large and medium capitalised stocks amongst which are; Nigerian Breweries, Guaranty Trust Bank, Guinness Nigeria, Dangote Sugar Refinery and International Breweries.

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The market closed negative with 19 laggards against 17 gainers.

Regency Alliance Insurance led the losers’ chart in percentage terms, losing 9.09 per cent to close at 30k per share.

Livestock Feeds followed with a loss of 8.50 per cent to close at N1.83, while Nigerian Breweries dipped 5.34 per cent to close at N47 per share.

Lasaco Assurance and Jaiz Bank shed 4.62 per cent each to close at N1.24 and 62k per share, respectively.

Conversely, Wapic Insurance dominated the gainers’ chart in percentage terms with a growth of 10 per cent to close at 55k per share.

Northern Nigeria Flour Mills trailed with a gain 9.73 per cent to close at N6.20, while Smart Products grew by 8.33 per cent to close at 26k per share.

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NEM Insurance rose by 7.88 per cent to close at N2.19, while Berger Paints appreciated by 7.44 per cent to close at N6.50 per share.

Similarly, the total volume of shares traded declined by 37.2 per cent as investors bought and sold184.53 million shares worth N2.52 billion traded in 3,527 deals.

This was in contrast with 293.97 million shares valued at N3.77 billion achieved in 3,760 deals on Monday.

Transactions in the shares of FBN Holdings topped the activity chart with 31.14 million shares worth N225.98 million.

Notore Chemical followed with an exchange of 22 million shares valued at N1.38 billion, while Fidelity Bank traded 15.28 million shares worth N35.31 million.

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Sovereign Trust Insurance accounted for 10.79 million shares valued at N2.42 million, while Transcorp transacted 8.68 million shares worth N7.11 million.

NAN

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