NSE LIVE! Consumer goods lift equities to N29bn gain

Nigerian Breweries led three other fast-moving consumer goods companies (FMCGs) to override the negative impact of widespread selling sentiments that opened the stock market on Monday.

With nearly two losers to every gainer, the market showed stronger underlying negative sentiment but the gains by Nigerian Breweries, PZ Cussons Nigeria, Nascon Allied Industries and Guinness Nigeria lifted the overall market position to a net capital gain of N29 billion.

Nigerian Breweries, the second most capitalised quoted company on the Nigerian Stock Exchange (NSE), led the gainers with a gain of N4.81 to close at N119.81. PZ Cussons Nigeria followed with a gain of N1.21 to close at N14.60. Nascon Allied Industries added 32 kobo to close at N7.35 while Guinness Nigeria rose by 15 kobo to close at N61.10.

Aggregate market value of all quoted equities rode on the back of the FMCGs gains to close at N8.738 trillion as against its opening value of N8.709 trillion, representing a gain of N29 billion. The All Share Index (ASI), the common value-based index for the stock market, rose by 0.34 per cent to close at 25,249.49 points as against its opening index of 25,164.91 points. The average year-to-date return remained negative at -6.05 per cent.

Read also: NSE RoundUp! Equities close with N38b gain

There were 19 losers against 10 gainers in a market that underlined the somehow undue influence of few highly capitalised companies. The NSE Consumer Goods Index rallied average gain of 2.2 per cent. All other sectoral indices closed in the negative. The NSE Banking Index declined by 0.2 per cent. The NSE Insurance Index depreciated by 0.1 per cent. The NSE Oil & Gas Index fell by 0.6 per cent while the NSE Industrial Goods Index closed flat.

Forte Oil led the losers with a loss of N2.97 to close at N56.24. UAC of Nigeria followed with a loss of 71 kobo to close at N13.64. International Breweries declined by 18 kobo to close at N15.97. FBN Holdings dropped by 13 kobo to close at N3.17. Nigerian Aviation Handling Company (Nahco) lost 12 kobo to close at N2.45 while Access Bank dropped by 11 kobo to close at N6.71 per share.

Total turnover stood at 110.01 million shares valued at N985.67 million in 2,160 deals. The three most active stocks were United Capital, 16.69 million shares, Zenith Bank, 16.09 million shares and Fidelity Bank, which recorded a turnover of 11.39 million shares.

“Notwithstanding (Monday)today’s positive performance, we expect sentiment to stay dampened by the attractive yields in the money market segment of the fixed income space amid low expectation on corporate earnings,” analysts at Afrinvest Securities stated.

Ripples Nigeria… without borders, without fears

Click here to download the Ripples Nigeria App for latest updates

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now