Local bourse opens week with marginal growth as investors earn N4.2bn

The local stock market begins the week with a marginal growth of 0.02 per cent, with investors earning N4.2 billion.

The All-Share Index (ASI) closed at 38,220.01 basis points as against 38,212.01 basis points it opened the market with.
Thus, the ASI Month-to-Date gain by the end of the trading session on Monday was 0.8 per cent, while the Year-to-Date loss was at -5.1 per cent.

Consequently, the market worth closed at N19.92 trillion, having afd d N4.2 billion, amidst mixed trading sentiments.
Basically interest in Banking stocks, Stanbic IBTC and Access Bank offset losses in Dangote Sugar nd Presco.

As measured by market breadth, market sentiment was positive as 26 tickers gained relative to 16 losers.

On the chart, Cutix and NCR stocks UTIX (+10.0%) and NCR recorded the most significant gains of the day having appreciated by 10.0 per cent and 9.7 per cent respectively, while Redstar Express and ABC Transport topped the losers’ list with 9.8 per cent and 8.1 per cent respective decline in their stocks.

On sectors, the Insurance, Banking and Oil & Gas indices posted gains by ,1.5 per cent, 0.6 per cent and 0.5 per cent respectively. Conversely, the Consumer Goods and Industrial Goods indices declined by 0.4 per cent and 0.1 per cent respectively.

Activities at the local bourse on Monday was impressive as the total volume of trades increased by 35.1 per cent to 282.62 million units, valued at N1.87 billion and exchanged in 4,788 deals.

Fidelity Bank was the most traded stock by volume at 28.09 million units, while Zenith Bank was the most traded stock by value at N330.43 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.Local bourse opens week with marginal growth as investors earn N4.2bn

Local bourse opens week with marginal growth as investors earn N4.2bn