NSE LIVE! Equities break even amidst tight trades

After three successive negative trading sessions, quoted equities on Thursday rallied back as investors sought to take advantage of the recent declines in share prices. With 18 gainers to 17 losers, the overall market situation was boosted by gains recorded by highly capitalised stocks in the consumer goods, banking and oil and gas sectors.

Key benchmark indices indicated average gain of 0.69 per cent, equivalent to a gain of N64 billion. Aggregate market value of all quoted equities rose from N9.307 trillion to close at N9.371 trillion. The All Share Index (ASI)-the common value-based index that tracks prices of all quoted equities, rallied to 27,284.83 points as against its opening index of 27,098.18 points.

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The average day-on-day gain of 0.69 per cent helped to reduce the negative average year-to-date return to -4.74 per cent.
Analysts attributed the rally to renewed bargain hunting, especially within the highly capitalised stocks group.

“Today’s performance was largely in line with expectation as investors hunted for bargains. We anticipate this momentum to be sustained tomorrow,” Afrinvest Securities stated.

Sectoral indices showed widespread positive sentiments across the sectors. The NSE Consumer Goods Index rose by 1.7 per cent. The NSE Banking Index appreciated by 1.0 per cent. The NSE Insurance Index improved by 0.5 per cent. The NSE Oil & Gas Index rallied by 2.71 per cent. However, the NSE Industrial Goods Index dropped by 0.01 per cent.

Nestle Nigeria, Nigeria’s highest priced stock, led the gainers with a gain of N68 to close at N825. Total Nigeria followed with a gain of N8.26 to close at N173.63. Berger Paints and Guaranty Trust Bank added 20 kobo each to close at N8 and N18.70 respectively. Stanbic IBTC Holdings rose by 18 kobo to close at N15.19 while Vitafoam Nigeria chalked up 17 kobo to close at N4.35 per share.

Total turnover stood at 182.67 million shares valued at N1.58 billion in 3,631 deals. Guaranty Trust Bank was the most active stock with a turnover of 34.32 million shares valued at N641.94 million. Unity Bank placed second with 29.62 million shares worth N35.43 million while FCMB Group ranked third with a turnover of 22.16 million shares valued at N35.16 million.

On the negative side, Nigerian Breweries recorded the highest loss of N1.41 to close at N128.60. Cadbury Nigeria dropped by 97 kobo to close at N18.51. Red Star Express declined by 21 kobo to close at N4 while Nascon Allied Industries and Oando dropped by 10 kobo each to close at N7.90 and N7.15 respectively.

 

 

 

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