Equities market dips by 0.14% in week ended June 24

Dangote Cement, Nestle, GTCO, Zenith, MTNN, others hold superior returns -Coronation Research

In the trading week ended Friday, June 24 the Nigerian stock market decreased by 0.14percent or N40billion.

The market closed the week in red despite four (4) days of positive closes as against one day in red.

Except NGX Banking Index (+0.33percent) and NGX Oil & Gas Index (+0.32percent), all other key sectoral indices closed the review week in red.

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NGX Consumer Goods Index was down by 2.02percent in the review week; NGX Industrial Index (-1.89percent); and NGX Insurance Index (-1.36percent).

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation depreciated to 51,705.61 and N27.874trillion respectively as against preceding week’s close at 51,778.08 points and N27.914 trillion.

Improved buy activities in stocks like FBN Holdings and Dangote Cement after their previous lows could not re-route the market to see positive close.

Iheanyi Nwachukwu

Iheanyi Nwachukwu, is a creative content writer with over 18 years journalism experience writing on banking, finance and capital markets. 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).

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