NSE LIVE! Equities build on rally with N17bn gain

Quoted equities on Thursday doubled up on the modest rally at the stock market as investors increased buy orders as banks’ directors meet to discuss their financial statements and possible dividends.

The boards of directors of many quoted companies have started meeting on the earnings and dividend payout of the companies.

As against a gain of N8 billion on Wednesday, equities rallied net capital gain of N17 billion on Thursday, representing average day-on-day gain of 0.19 per cent. Aggregate market value of all quoted equities on the Nigerian Stock Exchange (NSE) rose from N9.029 trillion to close at N9.046 trillion.

The All Share Index (ASI)-the common index that tracks prices at the Exchange also rose from 26,240.45 points to close at 26,289.95 points.

With the two-day rally, the average year-to-date return, though still negative, improved to -2.18 per cent.

Most sectoral indices showed positive sentiments. The NSE Banking Index rose by 1.2 per cent. The NSE Oil & Gas Index also returned 0.6 per cent. The NSE Insurance Index appreciated by 0.5 per cent while the NSE Industrial Goods Index inched up by 0.01 per cent. However, the NSE Consumer Goods Index declined by 0.5 per cent.

Read also: NSE LIVE! Equities regain uptrend with N8bn gain

There were 24 gainers against 19 losers. Forte Oil led the gainers with a gain of N6.68 to close at N71.88. Seven-Up Bottling Company followed with a gain of 90 kobo to close at N102.30. Guaranty Trust Bank rose by 61 kobo to N24.50. Cadbury Nigeria added 44 kobo to close at N9.44 while Nascon Allied Industries appreciated by 39 kobo to close at N8.23.

On the negative side, Mobil Oil Nigeria led the losers with a loss of N13.78 to close at N265.22. Nestle Nigeria followed with a drop of N10 to close at N740. MRS Oil and Gas declined by N4.21 to close at N39.03. Guinness Nigeria lost N3.50 to close at N66.55. Total Nigeria slipped by N2 to close at N285. Conoil declined by N1.86 to close at N35.49 while UAC of Nigeria dropped by 72 kobo to close at N16.41 per share.

Total turnover stood at 146 million shares worth N1.19 billion in 3,013 deals. AIICO Insurance was the most active stock with a turnover of 30.15 million shares valued at N18.09 million. Access Bank followed with 15.03 million shares worth N104.9 million while FBN Holdings placed third with 12.4 million shares valued at N43.9 million.

“We expect market sentiment to remain tepid in the last trading session for the week and expect a positive close for the week,” Afrinvest Securities stated.

 

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