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Weakened sentiment: NSE All-Share Index dips 0.01%

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Weakened sentiment: NSE All-Share Index dips 0.01%


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By Chinyere Joel-Nwokeoma

Lagos, July 9, 2020 (NAN) Sentiments in the nation’s bourse weakened on Thursday, with the All-Share Index dropping by 0.01 per cent.

Specifically, the All-Share Index (ASI) decreased by 1.51 points to close at 24,276.56 in contrast with 24,278.07 achieved on Wednesday.

Accordingly, Month-to-Date and Year-to-Date losses stood -0.8 per cent and -9.6 per cent, respectively.

Similarly, the market capitalisation which opened at N12.665 trillion lost one billion naira or 0.01 per cent to close at N12.664 trillion.

The downturn was impacted by losses recorded in large and medium capitalised stocks, amongst which are Conoil, Vitafoam, International Breweries, Arbico and Dangote Sugar.

Market breadth was negative, with 10 gainers compared with 15 losers.

Conoil led the losers’ chart in percentage terms, dropping 10 per cent, to close at N18.90, per share.

Arbico came second with a decline of 9.52 per cent to close at N1.17, while Vitafoam lost 9.30 per cent to close at N5.07, per share.

International Breweries dipped 8.86 per cent to close at N3.60, while Jaiz Bank shed 7.14 per cent each to close at 52k, per share.

On the other hand, Law Union and Rock Insurance dominated the gainers’ chart in a percentage terms, gaining seven per cent, to close at N1.07, per share.

Honeywell Flour Mills followed with 6.59 per cent to close at 97k, while Sterling Bank rose by 5.83 per cent to close at N1.27, per share.

PZ Cussons improved by 3.57 per cent to close at N4.35, while Caverton Offshore appreciated by 3.45 per cent to close at N1.80, per share.

In the same vein, the total volume of trade fell by 17.42 per cent with an exchange of 192.08 million shares, valued at N2.47 billion traded in 3,833 deals.

This was in contrast with a total of 232.61 million shares worth N4.69 billion transacted in 3,523 deals on Wednesday.

Transactions in the shares of Fidelity Bank topped the activity chart with 38.07 million shares valued at N68.55 million.

Guaranty Trust Bank followed with 23.58 million shares worth N534.47 million, while Zenith Bank traded 23.08 million shares valued at N385.44 million.

Access Bank sold 11.42 million shares worth N73.86 million, while United Bank for Africa transacted 10.60 million shares valued at N68.10 million. (NAN)

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Edited By: Chioma Ugboma/Oluwole Sogunle (NAN)

 

 

Chinyere Nwokeoma: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

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