Nigeria’s stock market opened this new week on a negative note (-0.10percent) as negative sentiments continue to trail investment in equities.

Except NGX Oil & Gas Index (+0.31percent), all other sectoral indices closed in red on Monday June 7.

NGX Banking Index (-0.80percent), NGX Consumer Goods Index (-0.09percent), NGX Industrial Goods (-0.07percent), NGX Insurance (-1.30percent).

Following this outing, the market may see insignificant rebound on Tuesday as investors buy some of the down beaten counters.

Trading on the Nigerian Exchange (NGX) Limited opened this week with All Share Index (ASI) and Market Capitalisation at 38,726.10 and N20.185 trillion respectively but closed on Monday at 38,686.4 points and N20.164trillion. This implies that investors lost about N21billion at the close of trading session.

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Juli Plc led the loser league, after its share price moved from N1.51 to N1.36, declining by 15kobo or 9.93percent, followed by CWG which decreased from N1.53 to N1.38, shedding 15kobo or 9.80percent.

On the gainers table, Morison led after its share price increased from N1.13 to N1.24, adding 11kobo or 9.73percent, followed by Conoil which rose from a low of N18.70 to N20.50, adding N1.80 or 9.63percent.

FBN Holdings, Wapic, Chams, Zenith Bank and Japaul Gold were most traded stocks on the Nigerian Exchange Limited. In 3,958 deals, investors exchanged 210,751,512 units valued at N1.499billion.

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By Iheanyi Nwachukwu • June 8, 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.

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