Nigerian stock market resumes: Business transactions on the nation’s bourse began in the month of July on a cautious note, falling by N5 billion to reverse the previous two days’ upward trend.
The market capitalisation, which began the month at N19.760 trillion, fell N5 billion to close at N19.755 trillion.
Similarly, the All-Share Index fell 8.72 points, or 0.02 percent, to close at 37,898.56, down from 37,907.28 on Wednesday.
Price declines in large and medium-cap stocks, such as Guaranty Trust Bank Holding Company, Oando, Dangote Sugar Refinery, Royal Exchange, and United Bank for Africa, drove the market loss.
According to Afrinvest Limited analysts, “we expect negative performance to be sustained in the final trading session of the week due to continued profit taking.”
However, as measured by market breadth, investor sentiment was positive, with 20 gainers outnumbering 15 losers.
Tripple GEE led the gainers’ chart in percentage terms, gaining 10% to close at 77k per share.
Ikeja Hotel gained 9.77% to close at N1.46, while Computer Warehouse Group gained 9.57% to close at N1.26 per share.
Wema Bank, Learn Africa, and Linkage Assurance all gained 9.52 percent to close at 69, N1.15, and 92, respectively.
PZ Cussons Nigeria gained 8.57 per cent to close at N5.70,p per share.
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Conversely, Royal Exchange led the losers’ chart in percentage terms by 9.84 per cent to close at 55k per share.
Oando followed with a decline of 8.51 per cent to close at N3.01, while Mutual Benefits Assurance lost 6.98 per cent to close at 40k per share.
Regency Alliance Insurance dropped 6.52 per cent to close at 43k, while Cornerstone Insurance shed 3.57 per cent to close at 54k per share.
Also, the total volume of shares transacted dipped 3.9 per cent with an exchange 205.450 million shares valued at N2.73 billion in 3,563 deals.
This was against a turnover of 213.70 million shares worth N3.23 billion transacted in 3,522 deals on Wednesday.
Transactions in the shares of Guaranty Trust Bank Holding Company topped the activity chart with 41.84 million shares valued at N1.25 billion.
Mutual Benefits Assurance followed with 14.68 million shares worth N5.89 million, while Wema Bank traded 13.18 million shares valued at N8.32 million.
Courteville Business Solutions sold 12.12 million shares worth N2.55 million, while Zenith Bank transacted 9.82 million shares valued at N233.79 million.
