Nigeria’s equities market opened the new week on a negative note, dipping by 0.36percent despite recording 14 gainers as against 13 losers.

Investors lost N71billion at the close of the trading session on Monday, July 12. The negative return seen at the nation’s equities market this year has increased to -5.99percent.

Despite the negative close, market watchers still expect mixed activity on Tuesday, hoping that investors will continue to cherry-pick attractive stocks while others route to take profit on previous gains amid expected first-half (H1) earnings release.

The renewed sell pressure on the Bourse occurred as investors in 4,017 deals exchanged 187,243,716 shares valued at N2.890billion.

Related News

Read also: Nigeria’s equities market halts rally

Computer Warehouse Group led the league of laggards after its share price decreased from N1.26 to N1.14, down by 12kobo or 9.52percent, followed by International Breweries Plc which decreased from N5.30 to N5, losing 30kobo or 5.66percent, and Champion Breweries Plc which dropped from N2.17 to N2.10, shedding 7kobo or 3.23percent.

The Nigerian Exchange (NGX) Limited All-Share Index (ASI) and Market Capitalisation which opened at 37,994.19 points and N19.795trillion on Monday, July 12 closed at 37,857.89 points and N19.724trillion respectively.

Zenith Bank, Sovereign Trust Insurance, United Bank for Africa, Mutual Benefit and Transnational Corporation of Nigeria were the most traded stocks on the Bourse.

More from our Markets Column
Read Next
FMDQ Exchange says N45.71trn April market turnover up 66.22% year-on-year

University of Oxford, FMDQ to accelerate Nigeria’s start-up ecosystem

By Iheanyi Nwachukwu • July 12, 2021

Iheanyi Nwachukwu, is a creative content writer with almost two decades journalism experience writing on banking, finance, capital markets, and tax. The multiple awards winning journalist is Assistant Editor, BusinessDay. Iheanyi holds BSc Degree in Economics from Imo State University; Master of Science (MSc) Degree in Management from University of Lagos. Iheanyi has attended several work-related trainings including (i) Advanced Writing and Reporting Skills (Pan African University, Lagos); (ii) News Agency Journalism (Indian Institute of Mass Communication {IIMC}, New Delhi, India); and (iii) Capital Markets Development and Regulations (International Law Institute {ILI} of Georgetown University, Washington DC, USA). Other trainings Iheanyi attended include: Economic/Political Risk Analysis (By Thomson Reuters Foundation); International Financial Journalism (IFJ) (By PMA Media Training, UK); Effective Business Writing Skills (By Phillips Consulting); Reporting on Corporate Governance (By International Finance Corporation (IFC) & Thomson Reuters Foundation UK); etc. In addition, he has participated in high-level economy & markets events in Dubai, South Africa, Morocco, and other African countries like Zambia, Ghana and Gambia.

Join BusinessDay whatsapp Channel, to stay up to date

Open In Whatsapp