Stock market falls further as Julius Berger, Okomu, 30 others dip

46 total views, no views today

Nigerian stock market recorded further decline on Tuesday May 7, 2019 as Julius Berger Nigeria Plc led the basket of 32 laggards against just 11 advancers.

At the sound of closing gong on the Nigerian Stock Exchange (NSE) 9th floor trading hall, the All Share Index (ASI) decreased by 0.34percent, while the Year-to-Date (ytd) return stood further negative at -7.43percent.

Investors lost approximately N37billion in just one day as all key sectors closed in the red amidst profit taking across the board, despite NSE Industrial Index.

The All Share Index closed at 29,096.41points as against the preceding day close of 29,196.87 points while Market Capitalisation closed at N10.936trillion as against preceding day close of N10.973trillion.

The volume of stocks traded increased by 58.7percent, from 271.07 million to 430.26 million, while the total value of stocks traded increased by 103.9percent, from N1.39billion to N2.83billion in 4,512 deals.

Julius Berge Nigeria Plc led the losers table after its share price decreased from N26.95 to N24.9, losing N2.05 or 7.61percent. It was followed by Okomu Oil Palm Plc which dipped from N72 to N70, after losing N2 or 2.78percent.

Other top losers include Dangote Flour Mills Plc which was down from N17.75 to N16, shedding N1.75 or 9.86percent. Cadbury Nigeria Plc declined from N11.8 to N10.7, losing N1.1 or 9.32percent; while Zenith Bank Plc stock price declined from N20.9 to N20.55, shedding 35kobo or 1.67percent.

“As the All Share Index nears the 29,000 point mark (closed 29,096.41 Tuesday), we see this as good entry points for investors with medium to long term investment horizon”, said equity research analysts at Lagos-based Vetiva.

The analysts expect investors to take advantage of already deflated prices on select names in Tuesday’s session, adding that they foresee a “neutral to positive session characterised … Read More...

Stock market kicks off new trading month in green

54 total views, no views today

Nigerian stock market on Thursday May 2 halted a three-day sell pressure to kick-off the new trading month in the green.

Though, at the close of equities trading session on the 9th floor of the Nigerian Stock Exchange (NSE), only 21 companies gained as against 26 losers.

The equities market closed on a positive note as NSE All Share Index (ASI) increased by 0.04percent. The NSE ASI increased from preceding day low of 29,159.74 points to 29,171.73points.

The value of listed equities increased to N10.963trillion from preceding trading day low of N10.959 trillion, adding N4billion.

In 4,836 deals, stock traders exchanged 279,618,390 units valued at N2.824billion. Transcorp Plc, Dangote Flour Mills Plc, Chams Plc, Access Bank Plc and Japaul Oil Plc were actively traded stocks on the NSE.

Mobil Oil Nigeria Plc stock price advanced most, from N177 to N186, adding N9 or 5.08percent.

Guinness Nigeria Plc followed after its share price moved up from N48.6 to N50, up N1.4 or 2.88percent.

Nigerian Breweries Plc stock price also increased from N65 to N65.75, adding 75kobo or 1.15percent. On the losers table, Presco Plc led the chart after its share price declined from N62.75 to N58 , losing N4.75 or 7.57percent.

Total Nigeria Plc stock price also dipped from N166.1 to N164, losing N2.1 or 1.26percent, followed by Conoil Plc which was down, from N20.8 to N20.1, after losing 70kobo or 3.37percent.


Iheanyi Nwachukwu

Source link