Stock market closes flat
…down by 2.24% month-to-date
Nigeria’s equities market closed flat on Wednesday, June 29 despite analysts’ expectation that it will record renewed bargain hunting as investors look forward to the first-half (H1) 2022 earnings season.
Month-to-date (MtD), the market has decreased by 2.24percent while week-to-date (WtD) it has advanced by 0.19percent.
At the close of trading on Wednesday, GlaxoSmithKline Consumer Nigeria Plc recorded the highest gain on the Bourse after rising by 30kobo or 4.84percent, from N6.20 to N6.50; followed by Fidelity Bank Plc which increased by 16kobo or 4.88percent, from N3.28 to N3.44.
Also, NPF Microfinance Bank which increased from N1.65 to N1.77, adding 12kobo or 7.27percent; Ikeja Hotel increased by 11kobo or 10percent, from N1.10 to N1.21; while Royal Exchange moved up from 96kobo to N1.03, adding 7kobo or 7.29percent. University Press led the league of decliners after its share price dropped from N2.60 to N2.35, losing 25kobo or 9.62percent; followed by Cutix which was down from N2.40 to N2.25, shedding 15kobo or 6.25percent.
The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalisation closed flat on Wednesday to 51,802.48 points and N27.927trillion respectively as against 51,803.98 points and N27.928trillion on Tuesday. The market’s year-to-date (ytd) return remained positive at 21.27percent.
Mutual Benefits, GTCO, UBA, FBN Holdings and Access Holdings were most traded stocks on the Nigerian Exchange Limited on Wednesday. In 4,466 deals, investors exchanged 416,469,572 units valued at N3.458billion.