Nigeria market ends half-year with 3.46% decline

Trading activities closed in the month of June on the backdrop of positive and negative region before finally gaining momentum on the last trading day with gains recorded in high capitalisation.

The likes of Dangote cement Plc and Nigerian Breweries Plc and Guinness Nigeria Plc and Presco were the major market drivers.

After close of trading activities, all sectors on the equities market returned mix performances as the Industrial goods sector returned the highest gain of 1.91per cent while the Insurance sector was worst hit with a loss of negative 1.35per cent.

 In terms of sectors year to date performance, the Industrial goods sector has returned highest for the year with a YTD return of 6.18per cent and the Consumer goods sector the worst performing sector with a year-till-date return of negative 6.73per cent.

Trading signals suggests this current rally could be attributed to gains which occur most times at the end of the first half of the year as most investors may be taking position against the expectation of companies half-year result.

The index closed today’s trading at 33,456.83 points, up by 0.62per cent (207.64 points), while its year to date return stands at negative 3.46per cent.

Similarly, the market capitalization of the listed equities appreciated by N70 billion to close at N11.42 trillion in contrast to the N11.35 trillion recorded in the previous trading session.

Volume of trades reduced to 268 million compared to 351 million recorded in the previous trading session. Value of trades reduced to N4.29 billion from N5.23 billion in the previous session.

Zenith bank plc, Sterling bank Plc and Unilever were the most actively traded stocks in terms of volume, while Zenith bank plc, Unilever Plc and Nigerian Breweries Plc topped in terms of value.

A total number of 25 stocks recorded price appreciation while 25 stocks declined. Fidson returned highest for the day, gaining by 8.18 per cent to close at N3.57, followed by Maybaker which also gained by 5.37per cent to close at N1.57.

On the losers side , Cutix topped table after shedding 4.85per cent to close at N1.57 per share. PZ followed also losing by 4.84per cent to close at N30.45, while Costain (W/A) Plc also declined by 4.75per cent to close at N0.80.