NGX Begins June With N12bn Loss

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.

John Holt followed with 7.94 percent to close at 58kobo, while Africa Prudential shed 7.26 percent to close at N5.75 per share.

Honeywell Flour Mill shed 6.61 percent to close at N1.13, while Chams depreciated by 4.76 percent to close at 20kobo 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.

Wapic Insurance followed with a 9.43 percent gain to close at 58kobo, while University Press climbed higher by 9.40 percent to close at N1.28 per share.

Consolidated Hallmark Insurance rose by 9.09 percent to close at 72kobo, while Regency Alliance Insurance appreciated by 8.89 percent to close at 49kobo per share.

Transactions in the shares of United Capital topped the activity chart with 23.97 million shares worth N143.66 million.

Veritas Kapital Assurance followed with 23.12 million shares valued at N4.62 million, while Eterna traded 21.58 million shares worth N163.98 million.

Zenith Bank sold 20.48 million shares valued at N470.70 million, while Transcorp transacted 16.49 million shares worth N14.64 million.





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