The Nigerian equities market resumed its bearish trend to open trading activities for the month of July, as sustained selling pressure weighed on investor sentiment.
The All-Share Index lost 3,729.11 points, representing a decline of 1.63 per cent to close at 225,690.07 points. Similarly, market capitalisation shed N2.393tn to close at N144.825tn.
The decline was driven by price depreciation in large and medium-capitalised stocks, including Aradel Holdings, Dangote Cement, NASCON Allied Industries, Zenith Bank, and Guaranty Trust Holding Company.
Market breadth remained negative, with 28 gainers against 33 decliners. Austin Laz & Company emerged as the highest price gainer with a 10 per cent appreciation to close at N3.30 per share. Guinea Insurance followed with a gain of 9.89 per cent to close at N1.00, while Abbey Mortgage Bank advanced 9.66 per cent to close at N7.95 per share.
Daar Communications appreciated 9.60 per cent to close at N1.37, while Regency Alliance Insurance rose 9.52 per cent to close at 92 kobo. Related News Nombank targets larger share of SME banking market IMF flags fiscal gap in Nigeria’s budgets NDIC takes over 46 delicensed microfinance banks
