Goddy Egene
Both volume and value of trading at the stock market fell last week as investors continued with profit-taking and cautious approach while waiting for the release of half year corporate results.
The volume of trading fell by 25 per cent from 1.348 billion shares worth N12.140 billion to 1.008 billion shares valued at N10.923 billion. Also the Nigerian Exchange (NGX) Limited All-Share Index (ASI) declined by 0.12 per cent to close at 37,947.18, while market capitalisation shed N24.5 billion to be at N19.771 trillion.
After declining the previous week, the bearish sentiments persisted last week for the second consecutive week, as investors booked profits on bellwether stocks. They were also cautious by investors as they await the release of Q2-21 earnings. However, while investors are eagerly waiting for the performance of companies, United Capital Plc on Wednesday announced its results for H1.
NGX, Greenwich Securities, Africa Prudential Educate Retail Investors
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GTBank Named Olusanya as MD, Agbaje Remains GCEO of Parent Company
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Goddy Egene
The Group Chief Executive Officer of Guaranty Trust Holding Company Plc (GTCO Plc), Mr. Segun Agbaje, yesterday said the group was excited about the opportunities the new structure the holding company has opened up, saying it would be turned into better value for all stakeholders.
Agbaje stated this at the Nigerian Exchange (NGX) Limited, during the closing gong ceremony to commemorate the listing of the GTCO shares on the exchange.
Following the restructuring of GTBank into a holding company, entire issued share capital of 29,431,179,224 ordinary shares of 50 kobo each of GTCO were listed on the NGX on June 28, 2021.
By Goddy Egene
The stock market opened for the week extending the negative performance of last week with the Nigerian Exchange (NGX) Limited All-Share Index (ASI) declining by 0.36 per cent to close at 37,857.89 yesterday. Similarly, the market capitalisation shed N70.9 billion to close lower at N19.723 trillion.
The market had went into the bears’ territory last week due to profit-taking after a positive performance the previous week. Specifically, the market dipped by 0.57 per cent. That bear run was extended to yesterday following sustained profit-taking in MTN Nigeria Plc, Zenith Bank Plc and BUA Cement Plc.
Although only 13 stocks depreciated compared with 16 price gainers, losses by the bellwethers propelled the negative close. Market operators had said the market would display a mixed trend, on profit-taking and repositioning for half-year earnings reporting season kicking off any time soon.