The Nigerian Stock Exchange’ equity market ended on a marginally positive note on June 2.The NSE All-Share Index rose marginally by 0.05 per cent or 17.24 basis points from 34,044.65 basis points to 34,061.89 basis points. Similarly, the market capitalisation of the listed equities rose by 0.05 per cent or N6bn from N11.568tn to N11.574tn.

A total of 224.072 million shares worth N3.478bn were traded in 3,940 deals with 26 stocks recording price appreciation and 19 stocks recording price depreciation.

Vono Products Plc gained the most for the day, rising by 9.60 per cent or 17 kobo to close at N1.94 per share. Costain (West Africa) Plc rose by 9.18 per cent or nine kobo to close at N1.07, while Dangote Flour Mills Plc and Livestock Feeds Plc appreciated by five per cent and 4.82 per cent to close at N4.20 and N2.39 per share, respectively. Cutix Plc gained 4.62 per cent or eight kobo to close at N1.81 per share.

However, International Energy Insurance Plc was down by 5.66 per cent or three kobo to close negatively at 50 kobo per share, while Academy Press Plc and NPF Microfinance Bank Plc declined by five per cent each to close at 95 kobo and N1.14 per share, respectively. Ikeja Hotels Plc was down by 4.87 per cent or 19 kobo to close at N3.71 per share with Nigerian Aviation Handling Company shedding 4.23 per cent or 27 kobo to close at N6.11 per share.

On Monday, the first day of trading after the inauguration of the new government, the market capitalisation of the listed equities fell by N90bn or 0.77 per cent from N11.658tn to N11.568tn, while the NSE All-Share Index dipped by 265.72 basis points or 0.77 per cent to 34,044.65 basis points.

It was generally poor performance as only two market indices appreciated with five declining and one, the NSE Alternative Securities Market Index, closing unchanged.

Dike Onwuamaeze


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