July 10, 2018
By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market on Tuesday closed the second trading session of the week negative as the benchmark index lost 0.60 percent to close at 37,421.01 points and driven by losses across the board.
InvestmentOne reports that at the close of the trading session on the domestic bourse, market breadth index was negative with 12 gainers compared to 27 stocks that declined.
The report says oil marketing firm, Forte Oil Plc with a gain of +9.94 percent emerged the topmost gainer, while insurer, Mutual Benefit Assurance Plc with a lost of -9.09 percent led the losers chart.
Nigeria’s top tier lender, Zenith Bank Plc with a loss of -0.41 was the most actively traded with 39.9 million units of shares worth about N965 million.
In terms of sector performance, the Nigerian Stock Exchange (NSE) Industrial index declined by 2.23 percent following the loss in the shares of cement manufacturer, Lafarge Cement Wapco Nigeria Plc which lost -5.92 percent.
In the same vein, the NSE Banking index shed 1.15 percent due to the decline in the shares of Nigeria’s top tier lender, Guaranty Trust Bank Plc and Fidelity Bank Plc both lost -3.37 percent and -1.88 percent each; while Zenith Bank Plc declined -0.41 percent.
