Market records further losses as investors’ risk appetite wanes
Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, July 4th, 2017 again ended on a negative note as the stock market closed red as investors’ risk appetite wanes. This was further highlighted by negative performance from the NSE Subsectors: Banking, Insurance, Consumer Goods and Oil & Gas. However, trading activities increased in volume as 206.18m shares worth of N1.70 billion in 4,294 deals exchanged hands today. This is an increase from 162.35m shares worth of N1.52 billion in 3,488 deals which exchanged hands on Monday. Topping in volume terms are: Fidelity Bank Plc, Transnational Corporation Of Nigeria Plc and Access Bank Plc; Guaranty Trust Bank Plc and Zenith Bank Plc ended trading as the most active stocks in value terms. Brent crude oil price rises to US$49.66 per barrel from $49.56 per barrel the previous day.
The All Share Index (NSEASI) closed negative with 1.10% (-359.60) decrease to close at 32,410.20 from 32,769.80 the previous trading day. Market capitalization depreciated in tandem to N11.17 trillion from N11.33 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with a decrease of 1.12% to 136.05 from 137.59 recorded at the end of the previous trading day, while its market capitalization stood at N10.59 trillion from N10.71 trillion of the previous trading day.
Market breath closed positive today as 10 stocks gained on the bourse while 31 stocks also declined, leaving 80 stocks unchanged. Leading the pack was Red Star Express Plc with a gain of 10.14% to close at N0.49 per share. It was followed by Honeywell Flour Plc with a gain of 9.84% to close at N2.12 per share. Others on the gainers’ list include: Skye bank Plc, A.G. LEVENTIS NIGERIA PLC and Norther Nig. Flour Mills Plc. On the decliners’ list, Neimeth International Pharmaceuticals Plc lead with a loss of 8.54% to close at N0.75 share. It was followed by United Bank for Africa Plc with a loss of 5.75% to close at N8.20 per share. Others on the decliners list include: Flour Mills Nig. Plc, Julius Berger Nig. Plc and Guinness Nig Plc.
Topping the Thisday BGL 50 Index gainers’ list Honeywell Flour Plc as it re-emerged as the day’s toast of investors with a gain of 9.84% to close at N2.12 per share. It was followed by Skye Bank Plc with a gain of 4.76% to close at N0.66 per share. Others on the gainers list include: UACN Property Development Co. Limited; while on the decliners’ list, United Bank for Africa Plc lead with a loss of 5.75% to close at N8.20 share. It was followed by Flour Mills Nig. Plc with a loss of 5.07% to close at N25.63 per share. Others on the decliners list include: Julius Berger Nig. Plc, Guinness Nig Plc and Ecobank Transnational Incorporated.