NSE LIVE! Equities break downtrend with modest rally

In from Success Alllantee . . .
As the National Assembly formally cleared the first batch of Ministerial nominees, Nigerian equities broke away from a two-day consecutive decline as a mild rally added N11 billion to market capitalisation.
With 21 gainers against 23 losers, considerable rally by few highly capitalised stocks muffled the downers and overshadowed widespread selling sentiments. Aggregate market value of all quoted companies on the Nigerian Stock Exchange (NSE) rose marginally to N10.207 trillion from its opening value of N10.196 trillion.
The All Share Index (ASI)-a value-based common index that tracks prices of all quoted companies, inched up from its opening index of 29,667.24 points to close at 29,700.08 points. This slightly improved the average year-to-date return to -14.30 per cent.
The positive overall market situation was boosted by gains recorded by many highly capitalised companies such as UAC of Nigeria, Forte Oil, Ecobank Transnational Incorporated, Dangote Cement and Union Bank of Nigeria among others.
Forte Oil led the gainers with a gain of N6 to close at N270. OKomu Oil Palm followed with a gain of N3.32 to close at N35.72. UAC of Nigeria rose by N1.10 to close at N26.85. Dangote Cement, market’s most capitalised stock, added N1.01 to close higher at N161.01. Seven Up Bottling Company gathered 97 kobo to close at N197. Ecobank rose by 34 kobo to close at N18.85. Lafarge Africa chalked up 31 kobo to close at N98.85. International Breweries rose by 20 kobo to close at N17.20. Red Star Express gathered 13 kobo to close at N4.25 while AXA Mansard Insurance gained 12 kobo to close at N2.68.

Read also: NSE LIVE! Equities slump as inflation worsens return

Total turnover stood at 172.84 million shares worth N3.44 billion in 3,231 deals. United Bank for Africa was the most active stock with a turnover of 33.43 million shares worth N134.9 million. Zenith Bank followed with a turnover of 20.48 million shares worth N344.82 million.
On the downside, Mobil Oil Nigeria led the losers with a drop of N4 to close at N155. Flour Mills of Nigeria followed with a loss of 99 kobo to close at N21.01. Nestle Nigeria declined by 67 kobo to close at N83. Berger Paints dropped by 54 kobo to N10.36. Guaranty Trust Bank lost 32 kobo to close at N23.04. Vitafoam Nigeria dropped by 28 kobo to close at N5.35. Nigerian German Chemicals declined by 25 kobo to close at N4.91 while Access Bank dropped by 24 kobo to close at N4.57 per share.

RipplesNigeria …without borders, without fears

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