Local stock market closes month bullish as investors earn N139bn

The local bourse extend previous day’s bullish momentum, to close the month of June on a green territory.

Bargain hunting in Nestle Nigeria’s shares (+10.0 per cent) drove the market higher as the FCMG company gained ten per cent to its share value.

Thus, the All Share Index (ASI) of the Nigerian Exchange Limited (NGX) edged up by 0.7 per cent to 37,907.28 basis points.

Accordingly, the Month-to-Date and Year-to-Date losses moderated to -1.4 per cent and -5.9 per cent, respectively.
Investors ended the month of June by earning N139 billion on Wednesday as the market’s worth appreciated to N19.76 trillion as against an opening mark of N19.62.

As measured by market breadth, market sentiment was positive as 20 tickers gained, relative to 16 losers.

On the performance chart, Nestle Nigeria and Ikeja Hotels topped the gainers’ list as they added respective 10.0 per cent and 9.9 per cent to their shares value, while BOC Gas and Sovereign Insurance recorded the most significant losses of the day with 10.0 per cent and 7.1 per cent dip in their respective shares value.

Sectoral performance was however mixed, following gains in the Consumer Goods and Oil & Gas indices and losses in the Insurance and Banking indices. The Industrial Goods index remained flat.

Activities at the local bourse was unimpressive as the total volume of trades declined by 6.7 per cent to 213.70 billion units, valued at N3.23 billion, and exchanged in 3,522 deals.

Wema Bank was the most traded stock by volume at 18.31 million units, while MTN Nigeria was the most traded stock by value at N1.67 billion.

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VERDICT: MISLEADING! UNICEF in its report explained that though there are different kinds of risks and harms that have been linked to children’s exposure to pornography but there is ‘no consensus’ on the ‘degree’ to which pornography is harmful to children.Local stock market closes month bullish as investors earn N139bn

Local stock market closes month bullish as investors earn N139bn