Equities Market Sheds 0.51% Amidst Zenith Bank Interim Dividend

The Nigerian equities market, yesterday could not retained the previous day gain as the bears resurfaced in the domestic bourse.
Zenith Bank reported its half year result for the period ended June 30, 2016, declaring an interim dividend of 25 kobo per share. Despite this, the bank stock declined by 2.50 to close at N15.60 per share.
In summary, the NSE-ASI shed 140.88 absolute points to close at 27,280.95 points. Similarly, the market capitalization declined by N48 billion to close at N9.37 trillion. The performance increased the Year-to-Date losses to 4.75 per cent.
Analysts at United Capital said, “The equities market gave up the bulk of the previous day’s gains as investors booked profits. In our view, ongoing pattern reflects expectations around the quality of Q2-16 earnings numbers on the one hand, as well as lingering uncertainties around the domestic maro terrain, on the other hand.”
Market breadth was negative, with 14 gainers versus 24 losers. International Breweries recorded the highest price gain of 5.93 per cent, to close at N20 per share. Wema Bank gained 4.29 per cent to close at 73 kobo, while African Prudential appreciated by 4.15 per cent to close at N2.76 per share.
Dangote Flour went up by 4.08 per cent to close at N4.34, while airservice appreciated by 3.88 per cent to close at N2.14 per share.
On the other hand, diamond Bank led the losers’ chart by 9.09 per cent, to close at N1.20 per share. CAP and PZ Industries shed 5 per cent each to close at N31.73, and N18.05 per share, respectively.
Oando down by 4.91 per cent to close at N5.42 and Seven Up went down by 4.88 to close at N102.60 per share.
Total volume traded depreciated by 37.76 per cent to 243.61 million shares, worth N2.56 billion, and traded in 3,647 deals.
Transactions in the shares of Zenith Bank topped the activity chart with 42.29 million shares valued at N652.63 million. Guaranty Trust Bank followed with 39.21 million shares worth N962.77 million, while Access Bank traded 37.35 million shares valued at N208.62 million.
Wapic Insurance also traded 33.25 shares worth N17.33 million and Diamond Bank transacted 28.19 million shares valued at N33.91 million.

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