HomeAnalysisNigeria’s bourse resumes trading in June with 0.19% growth

Nigeria’s bourse resumes trading in June with 0.19% growth

The nation’s bourse resumed trading in June on a positive note, with the All- Share Index appreciating by 0.19 per cent.

Specifically, the index rose by 48.33 points or 0.19 per cent to close at 25,316.15 compared with 25,267.82 posted on Friday.

Also, the market capitalisation which opened the month at N13.168 trillion inched higher by N25 billion or 0.19 per cent to close at N13.193 trillion.

The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are: Dangote Sugar, Nigerian Breweries, Guaranty Trust Bank, Vitafoam Nigeria and BUA Cement.

Analysts at Imperial Asset Managers Limited stated that, “This week, we expect to see a measure of profit taking as some active traders may likely cash on profit.”

They reiterated that investors with long-term investment goals should continue to build their portfolios given the current attractive valuation of most fundamentally viable stocks.

The market closed positively with 28 gainers against 10 losers.

Japaul Oil & Maritime Services and Nigerian Aviation Handling Company led the gainers’ chart in percentage terms, improving by 10 per cent each, to close at 22k and N2.75, respectively,

Dangote Sugar Refinery followed with 9.69 per cent to close at N14.15, per share.

Cornerstone Insurance grew by 9.09 per cent to close at 60k, while Champion Breweries appreciated by 8.79 per cent to close at 99k per share.

On the other hand, Fidson Healthcare led the losers’ chart in percentage terms with a loss of 9.71 per cent, to close at N3.07, per share.

Stanbic IBTC Holdings followed with 9.22 per cent to close at N32.50, while AXA Mansard declined by 8.87 per cent to close at N1.85, per share.

Afromedia dipped 7.69 per cent to close at 24k, while Flour Mills Nigeria and Honeywell Flour Mill shed 4.76 per cent each to close at N20 and N1 per share, respectively.

However, the total volume of shares traded dropped by 22.21 per cent with an exchange of 253.31 million shares worth N2.65 billion in 4,775 deals.

This was against a total of 325.61 million shares valued N4.48 billion, achieved in 5,647 deals on Friday.

Transactions in the shares of FBN Holdings topped the activity chart with 41.01 million shares valued N221.78 million.

Guaranty Trust Bank followed with 36.17 million shares worth N887.46 million, while Japaul Oil & Maritime Services sold 25.44 million shares valued N5.54 million.

Zenith Bank accounted for 21.58 million shares worth N369.89 million, while Regency Alliance Insurance transacted 20.47 million shares worth N4.11 million.

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