NSE Index Drops 1.05% as Bearish Run Flags Off New Month

Transactions at the Nigerian Stock Exchange, NSE, on Monday, July 3, kicked off the new month on a negative note bringing down the value of the bourse lead indices.

As such, the All Share Index slumped by 1.06 percent or 347.68 points closing at 32,769.80 points. Market Cap also fell 1.06 percent and closed the day at N11.331 trillion. The day’s performance decreased the year to date gains to 22.3 percent.

Similarly,  the market capitalization lost N120 billion on Monday to profit taking across major sectors.

Market breadth turned negative with 17 gainers against 29 losers. Honey well Flour Mills topped the day’s gainers chart with 9.66 percent leap  to close at N1.93 per share, while PZ followed with a gain of 6.24 percent to close at N24.35 per share, while Livestock Feeds added 5.26 percent to close at N1 per share.

Skye Bank added 5 percent to close at 63k per share and Cutix gained 5 percent to close at N3.20 per share.

Conversely, May & Baker led the day’s losers with a decline of 9.54 percent to close at N3.51 per share, 7UP followed with a drop of 9.53 percent to close at N78.21 per share.

Unity Bank followed with a loss of 8.96 percent to close at 61 kobo, Total dipped 5.00 percent to close at N2.66 per share and Cadbury fell 5 percent to close at N13.30 per share.

Access Bank led day’s activity chart with an exchange of 20.9 million 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.

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