Stock market closes July bearish with N51bn loss

As Nigerian Stock Exchange launches factbook

All-Share Index lost 588.14 points or 1.89 per cent to close at 30,557.20

Trading activities on the floor of the Nigerian stock market yesterday finished the last trading day of July negative as market capitalisation shed N51 billion following sell pressure.

The market capitalisation dropped to N13.507 trillion from N13.558 trillion, accounting for a decline of N51 billion or 0.37 per cent.

Also, the All-Share Index lost 102.31 points or 0.37 per cent to close at 27,718, as against 27,820.57 recorded the previous day, due to huge losses by some blue chips.

Market watchers had predicted that activities in the market this week would be trailed by mixed performances due to month-end activities of fund managers and profit taking by market speculators.

They believe fund managers will engage in profit taking for account rebalancing in January.

A turnover of 251.9 million shares in 3,937 deals was recorded in the day’s trading.

The Premium sub-sector was the most active (measured by turnover volume); with 131.3 million shares exchanged by investors in 1,475 deals.

Volume in the sub-sector was largely driven by activities in the shares of FBNH Plc and Zenith Bank Plc.

The banking sub-sector, boosted by activities in the shares of GTB Plc and Sterling Bank  Plc, followed with a turnover of 36.9 million shares in 454 deals.

Meanwhile, the NSE yesterday  announced the launch of its 2019 NSE Factbook.

The factbook is a compendium of capital market information, aimed at ensuring availability and easy access to current and historical market information for both local and foreign investors.

Commenting on the Factbook, Mr. Jude Chiemeka, Divisional Head, Trading Business of the Exchange, said: “timely and adequate information is critical to the workings of the capital market and is imperative for making desirable investment decisions.

“Over the years, the NSE Factbook has continued to be an invaluable resource for the investing community, providing insight into the operations of the stock market including activities of listed companies, dealing members and other stock market stakeholders. The Factbook is therefore a veritable tool for investor education.”

This special edition of the Factbook incorporates various features aimed at ensuring readers have access to diverse and comprehensive market information such as 5-year financial performance data covering the dividend history of all listed companies listed, ranking of rated companies in line with the Corporate Governance Rating System (CGRS), international codes of listed securities, profiles of dealing members and quoted companies as well as frequently asked questions (FAQs) pertaining to the capital market.

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