Nigeria’s equities market lost N90billion or 0.32percent on Wednesday July 13, the first trading day this week after a two-day public holiday marking this year’s Eid-el-Kabir celebration.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation decreased from preceding trading day’s 51,557.41 points and N27.803 trillion respectively to 51,390.25 points and N27.713trillion.

Multiverse Mining and Exploration led the top-5 laggards that routed market south, after its share price moved from N2.10 to N1.89, losing 21kobo or 10percent, followed Red Star Express which decreased from N2.75 to N2.48, losing 27kobo or 9.82percent and Cutix which also dropped from a preceding trading day high of N2.40 to N2.20, shedding 20kobo or 8.33percent.

GTCO, Japaul Gold, UBA, Jaiz Bank, and International Breweries were top-5 traded stocks as investors in 4,769 deals exchanged 198,816,000 shares valued at N2.181billion.

Read also: Naira falls to N615 as dollar scarcity hits FX markets

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Ahead of trading, analysts at Lagos-based Vetiva said, “We are likely to see market sentiments remain bearish with pockets of cherry-picking activities across board, as investors await second-quarter (Q2) earnings report.”

Trading Licence Holders and the Investing Public were last week notified that the suspension placed on trading on the shares of Ardova Plc was lifted on July 7.

Ardova Plc, one (1) of the nine (9) listed companies that were suspended on July 1, had last week filed its Audited Financial Statements for the year ended December 31, 2021, and Unaudited Financial Statements for the quarter ended March 31, 2022.

In a related market development, Trading Licence Holders were notified that additional 145,074,002 ordinary shares of 50 kobo each of Nigerian Breweries Plc were on Thursday July 7, listed on the Daily Official List of the Nigerian Exchange Limited (NGX).

The additional shares listed on NGX arose from Nigerian Breweries’ Scrip Dividend Election Scheme. With this listing of the additional 145,074,002 ordinary shares, the total issued and fully paid up shares of Nigerian Breweries Plc increased from 8,075,831,900 to 8,220,905,902 ordinary shares of 50 kobo each.

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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.

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