Equities resume July with N120 billion loss

Nigeria’s equities resumed the month of July on a bearish note, as market capitalization lost N121 billion on Monday, to profit taking across major sectors.
This depreciated the All- Share Index by 1.06 per cent or 347.68 points, which closed at 32,769.80 points. Market Cap also fell 1.06 per cent and closed the day at N11.331 trillion.

The day’s performance decreased the year to date gains to 22.3 per cent.

Market breadth turned negative with 17 gainers, against 29 losers. Honeywell Flour Mills, led the day’s gainers by 9.66 per cent, to close at N1.93 per share, while PZ followed, with a gain of 6.24 per cent to close at N24.35 per share, while Livestock Feeds added 5.26 per cent to close at N1 per share.
Skye Bank appreciated 5 per cent to close at 63k per share and Cutix gained 5 per cent to close at N3.20 per share.

On the other hand, May & Baker topped the day’s losers, with a decline of 9.54 per cent to close at N3.51 per share, 7up came next with a decline of 9.53 percent to close at N78.21 per share. Unity Bank followed with a loss of 8.96 per cent to close at 61 kobo, Total dipped 5.00 percent to close at N2.66 per share and Cadbury fell 5 per cent to close at N13.30 per share.

Access Bank led day’s activity chart with an exchange of 20.9 millio n shares worth N197.4 million. Fidelity Bank was next with the sale of 16.0 million shares valued at N20.9 million, while UBA traded 14.6 million shares worth N125.9 million. Transcorp exchanged 11.6 million shares valued at N16.3 million; and Zenith Bank emerged the fifth most traded stock with 8.9 million shares worth N184.6 million.