Equities market opens week parallel despite robust activities

The equities market begins the week’s trading with mixed sentiments, despite an uptick in activity levels at the Nigerian Exchange Limited (NGX).

On Monday, interests in Wema Bank and Presco offset losses in Union Bank of Nigeria and Ecobank Transnational Incorporations (ETI) as the former appreciated by 8.8 per cent and 2.9 per cent, while the latter dipped by 2.7 per cent and 3.8 per cent.

Thus, the All-Share Index traded flat at 37,952.65 basis points, with Month-to-Date and Year-to-Date returns flat at +0.1 per cent and -5.8 per cent, respectively.

As measured by market breadth, market sentiment was positive, as 22 tickers gained, relative to nine losers.

On the performance chart, Eterna and University Press Limited topped the gainers’ list having appreciated by 10.0 per cent and 9.9 per cent, while FTN Cocoa and Sovereign Insurance recorded the most significant losses of the day with 7.3 per cent and 6.1 per cent decline in the value of their respective shares.

Analysing by sectors, the Insurance, Oil & Gas and Consumer Goods indices posted gains by 1.2 per cent, 0.3 per cent and 0.1 per cent, respectively; while the Banking index declined by 0.4 per cent. The Industrial Goods index closed flat.

The total volume of trades increased by 73.5 per cent to 462.81 million units, valued at N1.2 billion, and exchanged in 3,610 deals. Jaiz Bank was the most traded stock by volume at 217.12 million units, while Nigerian Breweries was the most traded stock by value at N138.74 million.

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No Evidence Arab League Sent Warning Message To FG On Biafra Movement

CLAIM: A Twitter user claims that the Arab League of Nations sent a warning message to the Nigerian government on the Biafra movement.

VERDICT: No evidence to ascertain the origin of the statement. The statement is not new as it has been in circulation since 2017.  Also, Nigeria is not part of the Arab League and there is no evidence that that league will make a statement about a non-member.

FULL STORY: A Twitter user, Amah Johnbosco(@johnbosco_amah), on Monday, June 28, 2021, claimed that the Arab League of Nations said the Nigerian government is on its own if it provokes war while warning the government to let Biafra go.Equities market opens week parallel despite robust activities

Equities market opens week parallel despite robust activities

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