A total of N393.6 billion has been recorded as losses by investors on the Nigerian Stock Exchange, in the past four trading sessions, as the four days, last trading session of the month, closed on a bearish note.
Nigeria’s capital market is closed for the Muslim Eid-ul-Kabir holiday, on Friday(today) and Monday, meaning all sessions in the last trading week in the month of July closed negative.
The equities market performance on Thursday was attributed to profit taking and investors need for liquid cash, hence the sell offs in stocks that had appreciated in previous sessions.
The Consumer Goods’ sector recorded the highest loss of 1.03 per cent, while the insurance index led the day’s sectoral gainers with 1.39 per cent. Although market breadth improved as 27 gainers were paired against 20 losers.
Julius Berger led the day’s losers with a depreciation of 5 per cent to close at N32.49 per share, Cadbury dropped 4.97 per cent to close at N11.47 per share and SCOA Motors declined 4.97 per cent to close at N3.25.
Morison Industries fell 4.65 percent to close at 82 kobo and Stanbic Bank depreciated 4.33 per cent to close at N38.27 per share. On the other hand, Continental Reinsurance Plc led the gainers with an appreciation of 5 per cent to close at N1.47.
It was trailed by Nigeria Police Force Micro Finance Bank which grew by 4.46 per cent to close at N1.17, and Fidson added 4.38 per cent to close at N3.34 per share.
Jaiz Bank gained 4.05 per cent to close at 77 kobo per share while Transcorp advanced by 4 per cent to close the day at N1.30 per share.
At the end of the day’s transactions, investors, in 2,263 deals, traded a total of 266.5 million shares valued at N4.04bn, as against a total of 239.9 million shares valued at N2.9bn traded by investors in 4,371 deals on Wednesday.
Sovereign Insurance was the most traded stock on Thursday with 100 million units sold at N50m, FBN Holdings was next with the sale of 26.4 million units of shares valued at N150.5m.
Access Bank was third with the sale of 23.1 million shares worth N223.5m, UBA sold 20.5 million shares at N187.3m, while Zenith Bank sold 10.3 million shares worth N235.7m.
