Skip to main content

Nigeria stock market decreased by 3.2% in June


Nigeria stock market decreased by 3.2% in June

Nigeria’s stock market failed to impress investors in June following a record dip by 3.2percent in the review month. 
Negative sentiments that trailed stocks last month pushed its decline this year to a new high of -8.80 percent.
The record drop by -1.53 percent on the last trading day of the first-half (H1) has contributed to the unwelcome reign of the bears on the local Bourse.
This was fuelled by profit taking activities on large cap stocks like BUA Cement Plc, Dangote Cement Plc, Lafarge Africa Plc, Cadbury Nigeria Plc and Julius Berger Nigeria Plc.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) decreased to 24,479.22 points on Tuesday June 30 as against preceding trading day high of 24,858.82 points.
Listed stocks value decreased to N12.769trillion from day open high of N12.967trillion. Investors booked about N198billion loss on Tuesday June 30.
In 4,464 deals, investors exchanged 280,667,420 units valued at N3.138billion.
The share price of BUA Cement Plc recorded the highest decline on Tuesday after moving from
N43 to N38.7, down N4.3 or 10percent.
Dangote Cement Plc also recorded a dip, from N128 to N127, down by N1 or 0.78 percent. Lafarge Africa Plc dipped from N10.8 to N10, shedding 80kobo or 7.41percent.
Cadbury Nigeria plc dropped from day open high of N7.5 to N6.75, losing 75kobo or 10percent while construction giant, Julius Berger Nigeria Plc share price moved from N7.45 to N6.75, shedding 70kobo or 9.40 percent.
Going into second-half (H2) of 2020, market watchers say the path to stock market remains cloudy amid pressure on corporate earnings, concerns about the exchange rate and the second wave of Covid-19 pandemic. As a result, investors are expected to be cautious as stock market remains highly volatile

Comments

Post a Comment

Popular posts from this blog

N-Power: FG extends Batch C enrolment Aug 8

FG extends Batch C N-Power enrollment to August 8 Add caption The Federal Government says the enrolment for Batch C scheme of the N-Power Programme which started on June 26 will now close on August 8. Minister of Humanitarian Affairs, Disaster Management and Social Development, Sadiya Umar-Farouq, who disclosed this via  Twitter on Sunday night, said over 5 million applications have been received for the scheme. The Federal Government plans to enrol 400,000 applicants in the Batch C scheme. Batches A and B of the programme who are about to exit the programme held a rally at the National Assembly Complex last week, requesting FG to employ them as well as pay them a grant of N600,000 each. Providing an update on the development, the minister said on Sunday, “I received the news of a protest at the National Assembly by N-Power Batch A and B beneficiaries who presented a list of demands which we are reviewing and will address as practically possible. “Let me reiterate that th...
Post a Comment
Read more

FG SURVIVAL FUND TO COMMENCE REGISTRATION FEBRUARY 9TH

MSMEs SURVIVAL FUND TO COMMENCE REGISTRATION FOR GUARANTEED OFF-TAKE STIMULUS SCHEME & GENERAL MSME GRANT     100,000 Nigerians to benefit from one-off N50,000 MSME grant  The chairman of the Steering Committee of the MSMEs Survival Fund and guaranteed Off-take Stimulus Scheme and Honourable Minister of State, Federal Ministry of Industry, Trade and Investment, Amb. Mariam Y. Katagum, has announced the commencement of the Guaranteed Off-take Stimulus Scheme and the MSME Grant portal opening from February, 9th, 2021.  The Guaranteed Off-take Stimulus Scheme according to Amb. Katagum is aimed at protecting and sustaining the incomes of vulnerable Micro and Small Enterprises by guaranteeing the offtake of their products.   According to her, a total of 100,000 Micro and Small Enterprises are to benefit from the scheme.   The total target national number of beneficiaries is 100,000. The breakdown is as follows: Lagos, 3,880; Kano, 3,280; Abia, 3,080; while t...
Post a Comment
Read more

PRESIDENT BUHARI RECEIVES MADAGASCAN COVID-19 HERBAL “DRUG” FROM GUINEA BISSAU’S PRESIDENT EMBALO

PRESIDENT BUHARI RECEIVES MADAGASCAN COVID-19 HERBAL “DRUG” FROM GUINEA BISSAU’S PRESIDENT EMBALO President Muhammadu Buhari Saturday at the State House, Abuja, received the Madagascan native formulation against the Covid-19 pandemic, and reiterated that he will listen to science before allowing traditional or any new medicines to be administered on Nigerians. At an audience meeting with President Umaro Sissoco Embalo of Guinea Bissau who brought along with him the samples of the traditional medicine as shared to African nations by Madagascar, President Buhari said his position on all such herbal or traditional medicinal postulates had remained the same. “We have our institutions, systems and processes in the country. Any such formulations should be sent to them for verification. I will not put it to use without the endorsement of our institutions,” said the Nigerian President. On the main reason for his visit, President Embalo said having stabilized his country after the tus...
Post a Comment
Read more