Julius Berger leads loser group in market

The shares of Julius Berger Plc on Friday on the Nigerian Stock Exchange (NSE) nosedived by N2.54 following investors reaction to its half year result for the period ended June 30, 2016. The company led the losers’ pack with a loss of N2.54 to close at N48.39 per share. A market analyst, Mr Ambrose Omordion, attributed the development to the six months result released by the company to the market on July 28.

Omordion said that the result was below investors expectation thereby leading to profit taking embarked by investors on its stocks.

NAN reports that PZ industries trailed with a loss of N2 to close at N18.60 and Lafarge Africa also shed N2 to close at N56 per share. Okomu Oil dropped by N1.09 to close at N33.66 and Glaxo Smith lost 97k to close at N18.45 per share. Consequently, the All-Share Index lost 37.03 points or 0.13 per cent to close at 28,009.93 against 28,046.96 recorded on Thursday. Also, the market capitalisation, which opened at N9.632 trillion, dipped N13 billion or 0.13 per cent to close at N9.619 trillion.

On the other hand, Presco led the gainers’ table, increasing by N1.85 to close at N38.85 per share.

Zenith Bank garnered 60k to close at N16.91 and GT Bank grew by 55k to close at N24.05 per share. Guinness Nigeria rose by 30k to close at N94.50, while Custodian and Allied Insurance gained 16k to close at N3.99 per share. Also, the exchange moved 442.53 million shares valued at N4.65 billion transacted in 4,427 deals against the 270.72 million shares worth N2.25 billion exchanged in 4,609 deals on Thursday. United Bank for Africa drove activity, exchanging 134.46 million shares worth N611.99 million.

It was followed by Zenith Bank with 52.89 million shares valued at N874.77 million and Fidson Health Care sold 49.32 million shares worth N108.49 million.

FCMB traded 45.19 million shares valued at N63.16 million and FBN Holdings traded 31.45 million worth N106.77 million. (NAN)