The Nigerian equity market is now on its second consecutive month of decline as it posted a negative performance; in the month of July 2022. This is as the Central Bank of Nigeria increased the MPR rate in those two months by 250 basis points. Indicating that investors are taking a flight away from risky asset to find safe havens in a bid to hedge against double digit inflation.
In July, the All-Share Index (ASI) for the month, lost 2.79% starting at 51,817.59 basis points to end the month; at 50,370.25 basis points. These stocks include:
ACADEMY PRESS PLC (ACADEMY) 45.67%
ACADEMY is an established printing company in Nigeria offering services for the printing; of labels, calendars, company annual reports, books, magazines and marketing material. The company offers additional printing-related services which include the supply of graphic material, layout design, typesetting, artwork, photography, colour separation and binding.
THE INITIATES PLC (TIP) 20.00%
The Initiates Plc is a professional waste management company in Nigeria offering services for waste management; industrial cleaning and decontamination for the private and public sectors.
JOHN HOLT PLC (JOHNHOLT) 18.67%
John Holt Plc assembles, sells, leases and services power and cooling equipment in Nigeria and has business interests; in the energy, infrastructure and construction sectors. The company sells, leases and maintains Holt Star air conditioners for home and industrial use; sells, installs and maintains diesel generators; provides after-sales service and spare parts for its product range; and supplies fire and safety equipment and services.