NGX Begins June With N12bn Loss
Sentiments on Nigeria’s bourse turned negative on Tuesday, closing the first trading session in June with a loss of N12 billion.
As a result, the Nigerian Exchange’s market capitalisation, which opened for the month at N20.034 trillion closed at N20.022 trillion, with the All-Share Index losing 23.51 points or 0.06 percent to close at 38,414.37 from 38,437.88 recorded on Monday.
The downtrend was driven by price depreciation in medium and large capitalised stocks amongst which are; Seplat, Africa Prudential, United Capital, Champion Breweries, and Unilever.
However, market breadth closed positive as 18 stocks posted price appreciation against 17 losers. Analysis of today’s data shows 36 percent improvement in volume, 24 percent improvement in turnover, and 9 percent improvement in deals.
Champion Breweries led the losers’ chart in percentage terms by 9.91 percent to close at N1.91 per share.
On the other hand, Morison Industries dominated the gainers’ chart in percentage terms, gaining 9.57 percent to close at N1.03 per share.
Transactions in the shares of United Capital topped the activity chart with 23.97 million shares worth N143.66 million.